Personally I’m not playing their short term/low rate game. Why not?
It’s because I’m not convinced that interest rates out between eighteen months and thirty months will be high as is the case today. I’m seeing them trying to tie me up for that interval and then, if rates fall, I’m stuck.
So what could change my mind? Well, the moment I sense interest rates are generally falling I will lock in whatever deals are available at that moment. But right now my impression is we remain in a (generally) rising rate environment. Hence I continue to harbor hope of locking in higher rates than are available now.
Meanwhile, your 2% return on liquid funds does not seem punitive at all. At that rate we can afford to wait things out . . . at least a bit longer.