This is not a black and white yes or no decision, and how lucky we are to be having this conversation is one of the first thoughts I keep trying to bring myself back to. Pretty sure I posted similarly already but:
Given the assumption that there are no other debts (car payment, credit card, loans etc), First step is contributing to 401k, second maximizing an employers 401k contribution/match(if you have one), third maximizing your annual contributions to IRS limits. Then the debate gets to continued investment in IRA/ portfolio/etc vs house payoff. keep going back and forth about this, trying to balance the long term investment vs tax rewards, unpredictable stock market vs fixed mortgage rate etc. ultimately it's a risk/reward and a personal priorities decision, and on my opinion age/working years until retirement factors in as well, roughly as: if you're 15 years or less til retirement, it makes more sense to pay off that house, decrease cost of living expenses for retirement, as you don't have as much time to reap the compound interest benefits or ride out market volatility to achieve historical averages anyway. More than that, it makes more sense to invest now/for a few years, and let the mortgage ride, let your money grow and/or ride out some ups and downs, and hold off paying off the house until later. I'm currently still in the 15+ years left to work category so that's what I'm doing. Don't quite have my 401k contributions maxed out at the moment either, so that will be my next step before any mortgage payment increase as well. There is definitely something to be said, however, about the security of fully owning my own house. Thats something it's hard to put a $ value on, because it's worth more (to me) than the total of my monthly mortgage payments for the year.