Would it be smarter to refinance my mortgage to 20 yrs at 5.25 or 30 years at 5.5?

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Would it be smarter to refinance my mortgage to 20 yrs at 5.25 or 30 years at 5.5?

I currently still have 26.5 yrs on the loan at 6.3 interest. The 20 yr loan is $40 more a month and will save me about 90000 over the life of the loan, the 30 yr loan will save me $130 a month.

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