Refinance break-even
Break-even is a way to think about fees. It does not assume refinancing is good or bad. It helps you understand when savings would become real, if they do.
The basic idea
If a refinance lowers your monthly payment, you can compare that monthly difference to the fees. Break-even is how many months it takes for those monthly differences to add up to the fees.
Common tradeoff
A longer term can lower the payment, which makes break-even look better. But longer terms can increase total interest. Break-even is one lens, not the whole picture.