Should I refinace my mortgage 6.25% current interest rate on 30-year fixed?

I currently have fixed rate of 6.25% for a 30-year mortgage. I just took this mortgage out June 2007 (due to divorce). I owe $ 130,000 on the mortgage and my monthly payments are $ 1100 with taxes, insurance etc. I think the actual mortgage is $ 818.

Or with all the closing fees, appraisal fees, etc. I am not really going to benefit and should just stay put?

Note: I currently do bi-weekly payments..hoping to skim 6 years and $ 42,000 off the current loan.

I am considering refinancing now. But if I wait six months, I will have time to do some remodeling that will definitely bring up the value of my house. This would decrease my loan to value, hence no PMI payments….I however know nothing about the current mortgage trends. I can get a 30 yr fixed at 6.125% with a broker I am working with now. Am I risking too much to wait 6 mos to refi? I currently am in an interest only loan of 7.25% I only did it to get the house knowing I was going to refi in the future. So do I do it now or in 6 mos? I don’t gain much, other than a more stable loan by refi now. Thank you Thank you

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