I refinanced a year ago and it helped my cash flow and debt consolidation significantly. For me, it was a no-brainer.

Everyone's situation is unique, but I would say that if you plan to be in that house indefinitely, or at least for a few years, then you will more than recoup your closing costs and be locked in at historically low interest rates.
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"The Universe is the game of the self, which plays hide and seek forever and ever" - Alan Watts