Tilted Forum Project Discussion Community - View Single Post - House refi

intecel · 04-03-2006, 02:52 PM

I'm refinancing my house to pay off my 30k in credit / equity line debt in a couple weeks. I've been told by a few people that I should pull out an extra 15k to put into investments like a CD. I can easily afford the mortgage payment if I do this, but would it be worth it?

The interest rate on my morgage will be 6.12%, and I think the current rate for CDs are around 5%.

Can anyone explain why this is, or is not a good idea?

04-03-2006, 02:52 PM	#1 (permalink)
intecel Psycho	House refi - Take out extra for savings? I'm refinancing my house to pay off my 30k in credit / equity line debt in a couple weeks. I've been told by a few people that I should pull out an extra 15k to put into investments like a CD. I can easily afford the mortgage payment if I do this, but would it be worth it? The interest rate on my morgage will be 6.12%, and I think the current rate for CDs are around 5%. Can anyone explain why this is, or is not a good idea?