Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open.

What is the best way to determine if you should refinance a mortgage?
Our mortgage provider actually took the initiative to send us a refinance package with no closing costs to us and nothing added to the note; took us from a 30-year-fixed ~6.5% note to a 15-year-fixed ~5% note, and dropped the monthly payment in the process.  You might talk to your existing lender to see if they would do something like that for you; it gives them a chance to keep your business, and it cuts your costs.