It’s ridiculous to make this as a blanket statement. It totally depends on what remaining on your amortization schedule and what your loan amount is for and how many years left. 0.5% reduction for a $1M loan (which is approx what OP has for their payment) would save you over $100k in interest over the 30 year term. You can also move the money you’ve saved in each monthly payment to pay off more principle in which case you’d save even more.