I don't think this is dumb - plus, if you're buying cash, you want to have it available so that you can make quick offers with even quicker closing terms.
Looking longer term, rates will likely be higher than they are now in two years. So I guess the only question is your buying timeline - sounds like you'd be ready to purchase in the next <6mo if the right property came along. If that's the case, I'd pull the cash now, secure that long term low interest rate and be ready to shop.
Depending on where in the country you are, Winter can be a great time to get an extra discount from tired sellers.