Will refinancing to lower rate really save money?

DEAR BENNY: I bought my condo 18 months ago. The interest rate on my 30-year loan is 6.25 percent. Should I consider refinancing to a lower rate? I plan on staying here and paying off the loan so it seems even if I save some money on a lower interest rate I will be extending my loan and paying more/longer? --Scott

DEAR SCOTT: Since you've had your loan for a relatively short time, the costs to refinance your loan may not outweigh the benefits of a lower interest rate.

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