The #1 Reason for Refinancing is to get a better mortgage rate and term. Make sure your run the numbers.
The cost to refinance and the time period you plan to remain in the home may not benefit you if you were to refinance.
Generally, you need a rate that is about 1.5%-2.0% lower than your prevailing rate in order to break-even from the cost to refinance.
view the pros and cons