Yes. You may have a pre-payment penalty within the first two years. Check your mortgage documents to see. After the penalty time is up, look at what your rate is versus what current rates are and when you might be selling. These are important factors to consider. If you have not consumated this 10/1 arm, you might be better off getting a fixed rate now, since they are incredibly low right now. Rates seem to no where to go but up from here. If you have to move when rates are up, then you will be stuck. If you think you will stay put, then you should get a fixed rate.