I agree with scaredy on this. I think it is an asset allocation issue. You want to treat mortgage repayment as part of your bond portfolio and have the right asset mixes in your overall plan. Even if you think the stock market is over-valued at this point (which I think it is), you should take part of your money and ear-mark it as equity-fund rather than paying off the house with it. The stock market will return back to fair value once in a while and increasingly likely to do so in the next few years. You don’t want to tie all your cashes into the house.