adam61 wrote:Thanks for your response. I did not state it in the original post but I do not have enough deductions to itemize, so the effective rate is also 2.95%.
JambokLive wrote:I have heard many talk about paying off the mortgage...that it is similar to "buying a bond" that has the effective rate of the payed off mortgage. Which on face value makes much sense, however it seems to me that once you do that your "stuck" with that return and "bond" forever and would not be able to take advantage of raising rates if or when it happens unless you do a re-fi or HELOC...and in that case you would be doing that at a higher rate thereby negating the whole concept.
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