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Should you refinance?
A lower monthly payment is not the same thing as saving money. Resetting a 26-year balance back to 30 years lowers the payment while increasing what you pay in total, so this shows both, and current rates are 6.67% on a 30-year as of 2026-08-13.
Monthly change
−$237
lower each month
Current payment$2,424
New payment$2,187
Break even on closing costs28 months
Total cost change over the full term+$37,490
Watch the total, not the monthly. The payment may fall, but stretching the balance back over 30 years means you pay $37,490 more in total. That can still be the right call if cash flow now matters more than cost later, but it is a trade, not a saving.