Open Question: Should we refinance our mortgage - just bought the house 6 months ago

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We bought our house in October and made the 1st payment in November 2007. Our interest rate is 6.25% through Wells Fargo. Our house appraised out at 180,000 and we financed 161,000. We had thought about refinancing to try and get rid of PMI since we have a good bit of equity in the house. I had also wanted to try and go through a local hometown bank so that I could deal with someone face to face when needed. Im just not sure if it would be a good time to refinance with the rates now or what. I also had thought about refinancing to pay off a few credit cards.


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