Is it time to Refi the mortgage

Is it worth it?  Absolutely, as long as you can afford the $6000, you would be breaking even in less than 1.5yrs.  If you can't afford it you can still look into rolling the 6k into the loan, or have the discount point removed and get a slightly higher rate.  A general rule of thumb is if the rate is 1% or more lower than your rate then it is usually worth it (rates/fees being normal). 

And definitely shop rates.  I've had great luck using Lending Tree in the past.  You enter your info and 3-4 companies call you trying to compete for your business.  Just make sure and get the Good Faith Estimate from each company to use to compare.  If you are partial to your bank you could get the GFEs from other companies then take them to your bank and give them the opportunity to match/beat the offers. 

Not an expert, but based on your numbers above...

$410 savings per month = $4920 per year.

If you plan to stay more than 2 years (sounds like you do) it would be financially "worth it" since you'd surpass the $6,000 up front investment.

I just re-fi'd at 4.5% (down from 6.4%) and am pleased. There were no real "surprises" to speak of at all.

based on what you gave.... yes.  after 15 months you will have replaced your closing costs. I'm not sure how you are getting the $90K number but since you are not planning on living out the loan, you should consider only the savings for living there 5 - 10 years (I would consider 5 and any savings after that is gravy).  That's going to be your real number.  Quick and dirty math says you save 12 x 5 = 60 x $410 = $24,600 - $6,000 = $18,600. 

you may want to take into account the difference in equity at 5 years.  Amortization is front loaded on interest, so your payments to equity will likely change.  Looks like to me you will be increasing your principal payments by maybe $50 - $100 a month, giving you another $3,000 in equity at least.

Unless you just LOVE your bank, I'd shop around.  you may find one with lower closing costs or better rate.

thanks for the advice so far!  Went to lending tree and have 3 brokers competing right now.

So far I have same rate 3.875% for $3600 in fees and a 4% at $1400 in fees.

It's a math problem at this point...but so far they are beating my credit union.

Why not refinance with an amortization of 28.5 years at the lower interest rate and continue to build equity in your house?

We do house mortgages a little different in Canada but would alot of people in the US been better off over the past few years if they had equity in their homes?

I have to say, be careful with this.  They blast your info out to a bunch of lenders and you'll get swamped by calls with high pressure pitches trying to get you to sign fast.  And be wary of anyone who wants to pull your credit info.  Don't consent to that until you've settled on the lender you're going to use, as it affects your credit score.

It irritated me enough that I took a drive over to the bank that holds my current loan and asked them what they could offer me.  It was a better deal than any of the other ones I had talked to so far, and less hassle.

Well we went with a 4% no fees (which actually will be about $2100). we also get 2 months of no payments which is kind of nice.

So there it is, locked it in and saving just under $400/month.  Should take 2 weeks to fund.  so far this is the simplest refi ever. About 6 months we break even on the costs.  One if you look at it from a cash flow perspective.

This next 6 months is exciting in the world of bank financing, got one more rental to rate lock in Feb and possibly a business aqui loan as well.