No[*], but the monthly payments get more affordable. The principal doesn't change but if you're paying 3% on a mortgage and possibly getting a tax deduction on

No[*], but the monthly payments get more affordable. The principal doesn't change but if you're paying 3% on a mortgage and possibly getting a tax deduction on that interest so it might effectively be more like 2.5%, then you can decide to pay that down more if you're earning more on other investments. [*] It's arguable that low interest rates cause housing prices to rise, since more people can afford monthly payments on more expensive houses.