If you're in an adjustable rate mortgage, you may want to think about getting a fixed-rate mortgage. 

Sometimes it makes sense to refinance. Sometimes it does not. It depends greatly on your individual situation and what your financial goals are. For instance, you may want to lower your interest rate and/or monthly payment, but you need to ask yourself these questions:

• How long do you expect to be in your home?
• How much equity do you have in your home?
• Are you willing to pay points to get a lower rate?
• Will having lower payments more than make up for the closing costs , fees and points if any?

Q. Should I refinance from an adjustable rate to a fixed rate?

Generally, it's a good idea to get the lowest fixed rate possible, but you also have to consider your situation. If you're in the first year of an adjustable rate mortgage (ARM) and you plan on moving in three years, it probably doesn't make sense for you to refinance. However, if the rate on your ARM is about to adjust and you think the rate will go up, then it may make sense to get a long-term