If you want to gamble on falling 30 year interest rates, there are easier and better ways than serial refis, like options contracts on 30 year treasuries or even easier an ultralong long bond ETF. You could even do this in an IRA and get the profits tax free.
Being stuck with a 4% mortagage when you could have locked in 3.25% is a huge loss to bear, especially if you like your place and want to stay. On a 500k loan that is an extra 3750 a year each and every year. So that is the risk you are taking on.
All that said, congrats to the poster who has cleared 25k doing this! I did the much milder version of buying and refi-ing with a .125% higher no closing cost rate.
