The first set of Treasury regs came out late last year, and left lots of questions unanswered.

Mom + pop investors such as ourselves may on the margin be more inclined to buy something like that to get yield, but I would argue with the 10-year Treasury at 3%, and blue chip stocks like CAT yielding 2.5%, they headaches that come with being a landlord are not worth the extra 100 basis points - anyone who has been around this game long enough would agree with me on that, I hope.This notion of "staying on the sidelines" being looked down upon is also not something I particularly care for...asset valuations (and life in general) is not black and white.

MicroStrategy converted $475M of their corporate treasury money into  BTC and it has more than doubled since.

Have a credit union that will do 10% down 5/1 ARM at 4% then varies based on 10 year Treasury.

So if I’m at 5% now I’ll not go above 10% over the next 15 years (I also like fully amortizing.) 250 to 350 basis over treasury is typical.

Some fundamentals:Conventional loans are backed by Treasury Notes, 11th district funds, libor ratesThe current increase of 0.25% is to the Fed Funds rate, aka overnight, bank to bank rate.It takes time for changes in the Fed Funds to ripple into the other systems.Don't let FUD(Fear, Uncertanty, Doubt) spoil your day.

Sure you can keep track of treasury note yields to give you indicators but that's really all they are, indicators.

Currently, a 10 Year Treasury Bond is paying 1.77% and you would receive $8,850 a year on that $500,000. 

The size of the payment is somewhat irrelevant (in my opinion, and assuming you have sufficient cash flow to take care of the property).If you want to get more in depth on the cost/benefit analysis, you could use a program like excel to plan out your cash inflows and outflows, set these against a discount rate (essentially a risk-free rate of return commonly based off of 30-year treasury bonds), and determine the IRR (internal rate of return) that the refinance would yield you.I hope this helps.

The only surplus allowed is with the Treasury at the end of the day.