I’m at 2.9% and could do the exact thing. If one were to listen to Dave Ramsey, he’d say pay it off, but Ramsey is an idiot. Some people don’t understand it doesn’t make economic sense to pay off a 2.9% mortgage with money that makes 8% in the market. Plus, that 2.9% gets deducted on the first $750k.
I'm not sure I'd say he's an idiot, but his advice is certainly dated (stated mildly). A couple of decades ago it was generally passable advice for people who are not poor but modest income and have trouble living within their means. However, in the days of cards that pay 2% to 5% cash back, expensive housing, and with even "beater cars" being far more expensive than he seems to think are obtainable - he really out of touch. I would imagine just about any financial advisor would suggest keeping a mortgage under 5% and investing the cash elsewhere.
