Okay so the chance to refiance your home is coming up. The ability to shave interest and time off of your current term with almost no costs are becoming more and more enticing. However, the feds keep saying that they are not going to increase interest rates so that many borrowers have the oppurtunity to take advantage of the record low rates. If compared to the amount inches of rain that we have had in Texas this Summer (about 4 ), the same payment could eliminate almost half of the term in your mortgage. But do not be fooled. Banks are not making any profit from there venture so my prediction is that the rates will increase before the feds admit it and the amount of availble programs will decrease.
Look what happened when the feds stepped away from the gasoline regulations.
Do not take my word for it, take a look into the refinace and ask your favorite trusted loan originator.

They get paid to teach and coach you through these types of transactions. Cheers.