A dollar loses purchasing power over the years due to inflation, therefor a dollar today is 'worth' a lot more than a dollar 30 years from now. 

Even though the event may be taxable and the brokerage may take their piece, inflating the purchase price by 3% and then getting that $ back in the form of cash at close is wise as the total will be rolled into a 30 year note at historic low interest rates.

I bought it since I saw that interests rates were getting higher and inflation was going up.

If they continue to push the Federal Funds Rate higher in an attempt to curb inflation, then mortgage rates could move higher too, putting a quick damper on any recovery in demand.

You of course have to take that with a grain of salt as it is their job to give you a sometimes inflated number and then get you to buy at that number.  

If you can make some cashflow, park your money and protect it from inflation, add to your portfolio, and build your network up (and maybe foster a good relationship with a broker/bank/credit union to help out with these refi's), that may be more successful than if you could cash-out a few thousand dollars without the prior perks.In my opinion (if it matters), you won and you're winning.

They’re trying to lower inflation and slow down the economy.

So this is the beginning of the beginning for inflation.

Of course it is nice to see prices drop from their inflated highs, but that is coupled with rising interest rates.

But the problem with AirDNA is that the numbers look inflated since it counts cleaning fees in it as well.