I am in the middle of a cash out refinance in Cicero, and my banker told me that interest rates are fluctuating almost 1/2 of a percent.

Yes cap rates fluctuate, but if you can find multifamily properties that are rented below market, and do the work needed to get them to market (typically renovations), that increased cash flow will continue to be valuable to investors. 

Risky but high return potential.this is a great thread i was a little nervous admitting my total lack of knowledge of the stock market I am learning a bunch.Question with a 9 to 12% dividend i take it that will fluctuate through the years. 

Yes pay the HELOC as soon as possible, as you are putting your family home at risk, if the market fluctuates in the wrong direction.

Plus you limit yourself to long term interest rate risk fluctuations. 

If you buy at a significant discount, who cares about short term fluctuations in the market price?

Our mortgage has fluctuated between $840-900 a month depending on the escrow account.

Should I expect any issues with rent prices fluctuating due to current events?

Some investors view appreciation as icing on the cake as it fluctuates from year to year.

This, of course, does not factor in economic recessions, fluctuations within the market, or a drastic change in crime rate, school systems, job growth/decay, or migration.