Many businesses are loosing a ton of money due to this pandemic. 

@Eric JohnsonThanks, so if I take it and my 226 per month saving will recoup in 11 months, but in case I see rete cut further maybe if I get 3.25% or 3% after a month of refinancing, and if i refinance again, what do I loose ?

Governments, States, Counties will need to adjust rules, laws and  people adapt to new ways.Life Events: People will loose their jobs, family members (unfortunately), People who never had any savings will be forced to dig even deeper into debt.

I can still back out of it because the closing isn't until the beginning of May and loose only the earnest money and inspection costs.

Certainly not loosing any sleep.

You might want to get a second opinion from a loan broker before you cut that bank loose.

Many will choose real estate as a safe haven.3) The liquidity crisis is forcing the sale of gold (and bitcoin) which are both going down, so for many loosing a ton of money in stocks does not really motivate one to go out and buy another asset we all watched crater 10 years ago.4) The role of institutional money in residential r.e. is probably not well accounted for, so is black rock going to need to liquidate a couple thousand houses in your state?

I had to provide comps to support my rental price to make sure its a fair market (pretty loose term in my opinion) and then they had to schedule a walk through and check out the unit. 

I have an escape clause if something unexpected pops up on inspection ( so I dont loose my earnest money).

So everyone, except the insurance company, was taken care of rent wise.If the insurance is not covering for the loss rent in this case (which I also believe to be the case), either the guest or host is going to be loosing out.