When do interest rates change? 

If you are shopping based on rates and fees, these answers should provide you the detail needed to make an informed decision.  

I am going to wait until rates drop a decent amount and sell my former primary, which is now a rental, at a premium.

@Matt Smith generally speaking it’s a combination of rising interest rates which have caused cap rates to increase (thus wiping out equity), debt is resetting at higher rates, rising opex costs due to inflation and stagnant or softening of rents due to an increase of supply.

Yea they would keep that in place and you'd get a second position mortgage for the rest at, well, higher than todays rates.

We would have to come oop about 400-450 for 2nd HH.Also planing to use other rest of heloc for a dscr or brrr so that would possibly help as well.Would you wait until rates drop to do another HH and just buy the brrr/dscr now?

Also, with current interest rates, the BRRRR strategy is almost impossible because even with lower average property values, the rents are also low and the ratio prevents the ability to refinance all of your capital out and still cash flow.

The cap rate is one tool among many and this one is really only able to give an apples-to-apples comparison about the sale price across multiple commercial properties.

Townhomes and condos in areas like Spring Branch, Heights, and Rice Military can see high appreciation rates.

The soaking tub in the middle of the room is a 6-star hotel amenity or an outdated trash.