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A comment on Nearly 40% of U.S. homes are mortgage-free, census shows. Parent comment

Re:Nearly 40% of U.S. homes are mortgage-free, census shows by fred_is_fred on Tuesday December 12, 2023 @10:01AM (#38613008)
In fact the opposite is true. My mortgage is 2.125% and I have no motivation to pay that off because of rates spiking upward which gives me a better cash return than 2.125%.
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Re:Nearly 40% of U.S. homes are mortgage-free, census shows by ryandrake on Tuesday December 12, 2023 @01:17PM (#38616099)
If I could, I would pay off my 7.075% mortgage this minute. That's equivalent to a 7.075% guaranteed risk-free return, which I will not get on any other investment.
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Re:Nearly 40% of U.S. homes are mortgage-free, census shows by jsight on Tuesday December 12, 2023 @02:48PM (#38617381)
I think there's some of both. Plenty of people with low interest rates have little motivation for payoff.

But if you are moving right now for any reason, you aren't likely to be taking on more debt in the process. There's a pretty strong incentive to do what it takes to get debt to or near zero.

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