On the refinance, most of the market analysts that I follow are saying that we will see interest rates only begin to come down again in 1 to 2 years after the Fed stops tightening.

In recent months, the CPI has been stagnant or decreasing slowly despite the Feds aggressively pushing rates.

Jefferson FED GovernorFebruary 27, 2023Jefferson noted that housing services prices are estimated using information on rents and measure the price that renters pay and homeowners would pay to live in their homes.

They seem fed up.

The Fed is not bashful about it's November rate hike being between another .75 to even 1.25. 

The Fed is trying to slow down the housing market, and that is how they do it, and it is working.  

Lastly, when you are running your #'s for cash-flow in the long-term loan, I'd use a rate of 8.5% to mitigate against the FED rate hikes to come.

The grass is always greener . . .

We try to do this by paying for Quarterly Pest Control, Yard Maintenance (weed & feed and grass cutting) and high-end finishes.

So even if you did one on your primary, you'd jeopardize yourself to the Fed hikes.