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I'm sorry if this has already been discussed or if I'm posting this in the wrong area, I'm new to this.

I'm 44 years old.

I own a house worth $280,000.

I owe $60,000 on the home, 7 years remaining on a 15 year, 4.75% loan.

What I'm wondering is if I should refinance another 15 year loan and get a low rate (around 3%) and take some money and invest it in the stock market. I'd get the mortgage interest tax deduction, and it seems to me as though the market will do much better than 3% over the next 15 years.

Is this a common question or practice? Are there rules of thumb regarding such things?

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