Mortgage rates are near historical lows. If you have not refinanced your home yet, take a few minutes and do the math. You may be able to save significant amounts.  Use an online mortgage refinancing calculators, e.g. Bankrate or Nerdwallet. Consider moving to a lower duration mortgage (15 years or 10 years).  This will provide you with an even lower interest rate and much less interest paid over the duration of the mortgage. The value of your house may have appreciated, and you may therefore be able to eliminate PMI by refinancing. Local mortgage brokers and credit unions often have competitive rates.