Just run the numbers before you do. It restarts the amortization schedule, which depending on how long you’ve had it and what the fees will be could mean it’s significantly worse to refinance.

People think 5% is just a flat 5% a year, when it’s all front loaded. So it’s might be more like 5% interest the first year, but then by year 10 you’ve already paid almost half of all the interest you will pay.

Add on the extra fees, and it might be better to just keep the existing mortgage.

Just be sure to run the numbers first is all.