should i refinance my mortgages?

i have a mortgage at 5.5%, 26 years left to pay. i have a 2nd mortgage at 7.99%, 28 years left to pay. i can consolidate and get an interest rate of 5.1% for 30 years. i have been paying about $ 1200 extra a month on both, but don’t know how long that will last. don’t need to lower payments or get cash out, just want to pay less interest over the long haul. btw, i plan on living in this house for the rest of my life 50 years + (i hope!, knock, knock)

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