Looking at refinancing - should I?

I have a home mortgage of 47,000 at 6.1 for 30 years 20 years left.. I have a home equity loan that was for 30 years that has 17,000 left. I pay 392.00 on the first mortgage and only have to pay 77 per month on the equity loan. I have been over paying on principal on the equity loan for a total of $300.00. I talked to a lender who suggested combining the loans and refinancing for 10 years, but the payments are a little too high. Should I bother refinancing at all? It seems that if I keep going I will have the equity loan paid of in 5 years. Which way to go?