Update: Last fall, October I think, my wife and I refinanced from a 30 yr 7.25% to a 20 yr 5.75%. Monthly payment stayed the same but shaved 10 years off the loan! Progress! I still go back and forth every day about what is the best decision, but in the meantime, we're enjoying our home and trying to make smart choices. Thanks everyone for contributing to this thread and sharing your thoughts! It's been super helpful.