Pay off the mortgage. The sense of freedom and security from no longer being on that particular 25 year debt treadmill is quite profound. Mortgage rates could

Pay off the mortgage. The sense of freedom and security from no longer being on that particular 25 year debt treadmill is quite profound. Mortgage rates could return to 1980s 10%+ and you couldn't care less. Course if you're planning on 3 children and you currently have a two bed property I may change my answer.