A 30-year amortization would decrease your monthly mortgage expense a little bit (though the higher interest rate will also increase it, so you'd have to factor those things to see if they make a difference). 

Unless your market is forecasted to have an oversaturation of housing and/or population decreases, I think it should work just fine for a long term approach.  

For 2022 annual appreciation/growth, the experts are predicting, zillow 13.6% increase, goldmansachs  16% increase, fannie me 7.9% increase, core logic 1.9% increase, mortgage bankers assoc -2.5% decrease, redfin 3% increase, michael uber 10% increase. 6.

I have noticed this month more houses have gone up for sale with sales prices decreasing. 

So, if you can make a deal today at today's rates that cash-flows positively after refi, if you manage it well and hold onto it over time rents will likely increase and you will likely be able to decrease your expenses when rates go down and you can refinance again.

Which areas have decreasing vacancies.

Additionally, it is likely that pricing of properties will decrease at some point, so if the deal makes sense now then it's worth considering.

I don't know how you invest in anything long term that has decreasing demand.

I would envision things would still be strong through the winter as supply decreases but demand is still existing - and this is with most of the oil rigs stacked up... wait till the price of oil comes back next summer.  

It decreases my initial risk because I don't owe anyone money if everything goes wrong.