You have been living in the house you bought 10 years ago for 100,000€. At that time, you took out a loan for 80% of the house at a fixed rate 15-year loan at an annual stated rate of 6%. You have just paid off the 120th monthly payment. Interest rates have meanwhile dropped steadily to 3% per year, and you think it is finally time to refinance the remaining balance. But there is a catch - the fee to refinance your loan is 2,000€ which should be paid immediately. Should you refinance the remaining balance? How much would you save/lose if you decided to refinance?