Here are my simple rules to determine if you should refinance.

...Do you have an adjustable loan?

...Is your rate currently adjusting or will begin adjusting within 12 months?

...Do you want to reduce the rate and or length of your loan? 

...Do you want to lower your payment?

...Do you pay PMI/MIP/LPMI and you now have at least 20 to 22% equity in the home now?

...Do you want to consolidate current bills?

...Do you have need for cash for a major event, i.e. (college, wedding, new car, medical)

...Do you need to improve your current property?  (renovations or additions)

...Investment. (second home, investment property)

...If you own multiple properties, consolidate mortgages to improve Tax benefits.

...Finally, if current rates are half a percent lower than what you have and you intend to be in the home beyond the break-even point.  (call me for a FREE break-even analysis and current interest rates)

If you answer "yes" to any of these you should consider refinancing with a mortgage expert who is reputable?  I proved FREE one on one consultation to my clients so they can make an informed decision about one of their largest financial transaction.  Call 609-631-2949