Should I owner-occupy before I refinance a multi-family?

[Robin W.]

There's a rare opening soon in my multi-family property, and I'm thinking of taking the opportunity to owner-occupy the unit with the intention of refinancing to reduce interest rates. My current interest is at 5.5% 30 year fixed that matures in 2032, but as I understand it I can do a lot better at this time. Is there really a value to owner occupancy in refinancing? Has anyone ever don't it, and how long would I establish residency before approaching lenders? 

I actually love the building and it's a joy to live there, but I'm hoping to research more on likely savings before I give up the high-rent that it usually brings.