I am 60, been retired 4 years. Ten years ago we bought this old farm house. We refinanced 6 years ago at 5.625% for 30 years. The question now is, should we refinance now? I don't exspect to live past 90 so the place will probably never be paid in my lifetime. But is it wise to exstend it at anywhere between 1.5 to1.75% lower. More money in our pockets month to month, closing costs to pay, How long to go in term. Is it better to sve say a smaller amount month to month and go shorter term, 20 years? Or, would it be better to go 30 years and have more money each month. We're not in need of this, could pay off mortgage but it would leave very little in 401k. Any thoughts?