Refi or Not Refi -- Keep line of credit or refi?

[Bryan Doan]

OK... I'm still undecided on what to do -- whether I should refi or keep my line of credit.... 

So I have a line of credit on my primary residence.  I got it last year on a promo offered at BOA.  During the last few months prior to Oct, my rate was 1.7% but since the promo ended in Sept, it is now 2.6% which is still low.  I thought after the promo period the rate would be really high -- probably in the 4's, so I went to apply to refi on my primary residence to pay off the line of credit.  I got a refi rate at 2.75 with about ~ $1.7K lender credit at closing (appraisal waived as well).  It turns out the line of credit is even lower than the refi rate and that makes me think if I should move forward with the refi.  I know the 2.6% rate is not fixed and changing monthly but the Fed said they would keep the rate low for the next couple of years so the rate may be still low and under 3%. I talked to the lender that I'm doing refi now and they said I can only choose one: the line of credit or the refi.

I don't really want to lose that 2.6% but still want to do the refi as the rate is low as well.  There's nothing else on the house except that line of credit and we may pay it off in the next 2-3 years or so, but that is still in the debate if we should use the funds for investing elsewhere than pay off the house.

If you were in my situation, what would you do, please?

Thanks!