Maybe, but only if you structure the refinance so your break-even lands close to immediate. If you might move in 12 to 24 months and the break-even also lands around 24 months, you would spend your entire time in the loan just recovering the cost and barely come out ahead. Two moves fix that: - Skip the points. We lean against paying points in general, and on a short horizon they never get the years they need to pay off. Take a no-cost or low-cost refinance instead: a slightly higher rate generates a lender credit that covers the fees, so you start saving almost from day one. As an illustration, saving $200 a month against a $4,000 cost nets you very little by month 24, while the no-cost version is ahead the whole way. - Keep a fresh 30-year term. In a 12-to-24-month window you pay down almost no principal either way, so a shorter term just raises your payment for a benefit you would sell before collecting. The answer swings entirely on your real cost and your real timeline, so run the actual numbers before deciding. The 7% and the dollar figures here are illustrative.