Updated almost 2 years ago on . Most recent reply
Heloc Arbitrage Discussion
Hello Everyone!
Hoping for some advice and a little insight.
When interest rates were lower, July 2022, we locked in heloc fixed for 3 yrs at 3.25% interest only. We just purchased rental number two and I wanted some reserve cash in the bank so I pulled out some money from the heloc just to have.
I pay 3.25% interest on my heloc until June 2025 and I currently have 5.25% interest in a high yield savings. Should I just keep it in the bank while paying off interest and make the 2% arbitrage move here or am I looking at this incorrectly?
Would love some insight.