Help with refi decision plse!

[kitty36]

I was hoping to get some different opinions regarding refi-ing our mortgage. We bought the house in 2006 at 6 & 3/8% and refied last year to 5%. Because we didn't have 20% equity in the home the fees/points were not cheap. We had the money to pay the costs up front but are not at the "break even" point yet. So now it looks like we could get 3.8-4% interest with less fees as we probably have 20% at this point. (Totally wished we waited now but never thought they'd go lower!) We would probably lower the monthly payments by $150 and could pay the closing costs up front again.
We are currently expecting our second child and I would love to be able to work part time, but this is not guaranteed at all. We have always made extra payments on the mortgage with the expectation of finishing it before 30 yrs. My dh is hesitant to refi as he will be 40 this year and hates the thought of once again extending our loan.
Anyone have any thoughts on whether or not it makes sense to refi again or just stick with what we have?! TIA

[M]

I use to do mortgages and did a lot of refi's. The one thing I use to tell people was if it saves you money then definitely refi, but keep making the same payments that you are making right now regardless of how much lower your new payment amount is. You'll get it paid off faster than how many years you currently have left. If you add even just $50-100 more to your payment each month, it will make the payoff come even quicker.

[kitty36]

I think I'm leaning towards trying it again, thanks for the info!