had 30yr mortgage. was 5 yrs into it. asked bank about refi options and they said i could refi for free and drop interest 1 full percent. or i could pay about 3% fee to drop interest 2 full points. if i was smart, i would apply saved money from lower payment to principal and pay off loan early. i certainly will not be in house in 30yrs. heck, won't even make it 5yrs.