EconProf, what do I care about (non-material changes to) interest rates?
If I refinance 4 times in 1 year and in that time rates go up from 3.5% to 5.5%, I would net $16k from the refinancing (tax free) and would be paying and extra $8k (2% * $400k, tax deductible) per year in interest.
Highly simplified, I know. But, am I missing something?
