Should I Refinance with a VA IRRRL?

Current loan:

$421,000

$2950 / month payment

6.25%

348 (29yrs) left on the loan

VA IRRRL Offered:

$422,250

$2,270 / month payment

4.98 fixed (5.09% APR)

360 month / 30 year term

Is it worth going for this or waiting longer for rates to potentially drop more?