There are always 2 groups of people. One that like to have as short a mortgage loan as possible and the other groups who advocate stretching it to the limit.
Lets take a look at the argument of both group.

Short Loan : I’ll save on interest, imagine if you take a $1M loan at 5% for 30 years. You are paying a total of $1.93M at the end of the loan. 2X..
Long Loan : Money is depreciating. with inflation of 5% annually. $1.9M is nothing in 30 years. Assuming house price inflate at the same rate as inflation. the $1M house will be $4.3M
Short Loan : That value will not change. If you paid it up, lets say in 10 year. You paid a total of $1.27M. Saving $660K, this is before taking into consideration of compounding if put in other investment.
Long Loan : Thats future money. At 5% inflation, money devalue by half in 15year. Its better to make good use of current money.
Short Loan : You’ve the point, to make good use of current money. If you can use the money saved now and  earn more than bank interest of 5%. If not, it make sense to pay of the bank, else you’re loosing on booth end. Paying bank interest and loosing on dollars depreciation.