We just went through this and decided to pay ours off last week.
We had refinanced a couple of times but each time we went for a 30-year mortgage, and with the plan to invest the difference between a 15- and 30-year mortgage payment into an Index fund. (We were tempted to take the 15-year but thought we'd risk market payback.) Took us longer than we thought, but we still managed to pay off a 30-year mortgage in ~20 years.
We have adequate liquidity or we probably wouldn't have considered this.
We had refinanced a couple of times but each time we went for a 30-year mortgage, and with the plan to invest the difference between a 15- and 30-year mortgage payment into an Index fund. (We were tempted to take the 15-year but thought we'd risk market payback.) Took us longer than we thought, but we still managed to pay off a 30-year mortgage in ~20 years.
We have adequate liquidity or we probably wouldn't have considered this.