If your present home is owned free and clear. In my opinion, no leave it mortgage free.
There are too many variables which you have not provided with your question. You are asked about a financial planning question pertaning to your retirement.
Best to speak with your accountant or estate planner.
Brock Realty Inc.
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The comment about it not being worth it us not correct, you just need a loan officer to structure it with a slightly higher than market rate to absorb the costs so you don't pay for the refinance. Yes you will have a slightly higher rate that what is possible, but that is completely irrelevant if it lowers your current rate of 5.75% and you don't pay anything for it.
Tammy Hayes, Realtor
Green Lion Realty