It might be worth it, depending on what you want to do. The rates are decent right now so you would most likely be able to get a lower rate and in turn lower your monthly payments. You have a good amount of equity so you would be able to pull out some cash if you wanted/needed. If you plan on staying in the house for the rest of your life or at least for the life of the loan then I would recommend refinancing, I'm not sure what state you're in but you could contact a lender that you can trust and have them price out the rates for you. However, if you only plan on being in there for a few more years then it wouldn't make much sense to pay $3,000-$6,000 in closing costs just to lower your rate 0.500%.