re: When was the last time you refinanced your mortgage?

You should look into it, you will most likely save money and the only question is how long you plan to stay in your house vs. how long it takes to cover the refinancing costs. I went from just over 6% to 3.75% with a quicker payoff and the break even point was about 1.5-2 years.

Even if you move before your break even point you still might come out ahead, because reducing the interest rate and years changed how much of my mortgage payment went to principle each month, so I'm building up equity much quicker than if I'd have kept the original loan.