mortgage pay off or not or delay or refinance

[sallylee]

I had the cash to pay off a mortgage several years ago but i did not and just left the cash there. I realize that in a mortgage in the beginning years you pay most of the money in interest and then in the later years more of the money goes to principal. If that is the case, and if refinancing drops your interest rate by 1% is it even worth it to refinance? I had a 15 year mortgage 5 years ago and now I almost pay down to $100k and not sure if it is even worth it to refinance. My broker keeps calling me but not sure what to do.

[SwordGuy]

Check out Karl's Mortgage calculator.

Put in your balance and interest rate and remaining months on the loan and calculate the interest costs for the rest of the loan.

Then do the same for a re-financed loan.  Compare the difference in interest costs after paying any refinancing fees.