Originally Posted By: tonyc
I actually did consider going with a 20-year or 15-year fixed to get a lower rate, [...] but the rate difference isn't quite enough to make it worth stretching our monthly budget that much.

My wife and I re-financed to a 4.0 15-year fixed, from a 6.something 30-year fixed. The payments ended up being negligibly higher (about the cost of a cable bill ;)). It's not the rate difference that makes it worth it, but the time factor. By going this route, we shave off something on the order of $250k from our interest payments, because we aren't carrying the loan for an additional 15 years.