When doing a cash out refinance and the lender says they locked in your rate, did the cost of your mortgage/discount points also get locked in or is that going to fluctuate until closing?

In addition MFH is less prone to market fluctuations, especially in the "affordable housing" segment. 

With a certain amount of internal control, (the banks and property management companies), market fluctuations were not as likely to occur and the housing market would maintain a steady increase for the investors and of course the banks.

But I'm not sure what they are safer than.......fluctuating values, perhaps?

This way you are covered for the fluctuations in the different segments of the wonderful world of real estate.

I knew it was not always 100% Garunteed but I did not know the amount could fluctuate.

If you invested $10K in 1975 in an S&P 500 index fund, by the start of 2011 you would net just over $44,000 after, taxes, management fees and market fluctuations.

Learn how to plan for price fluctuations and to incentivize people working for you.

Equity can fluctuate quite a bit over a span of years. 

Obviously our local market is extremely hot and it has been hard to come by a deal that I have felt ready to pull the trigger on.Therefore, the number of units and price point obviously fluctuates.