The general rule of thumb is that if you can lower your interest rate by one percent, refinancing should be considered. A loan from the Borrower’s perspective, even a refinance, is time-consuming and tedious. Instead of an entirely new refinance, go back to your current lender and see if it has a streamlined process to lower the rate. The fees and costs of the refinancing will be less, and there is a time savings for you. That should be your first step.
Mitch