How do you know if you should refinance from an adjustable-rate to a fixed-rate mortgage?

Asked by Trulia Boston, Boston, MA Wed Jan 30, 2013

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Michael Suff…, Mortgage Broker Or Lender, Wakefield, MA
Wed Jan 30, 2013
The answer can very from situation to situation. You need to consider your short term and long term plans with the property. You also need to consider when the fixed period of the ARM is going to start adjustment. With rates at historical lows it might be time to lock into a fixed rate. However, some people with a short term plan are locking into a new ARM.
1 vote
James Furlong, Agent, Brookline, MA
Mon Feb 11, 2013
Work with an experienced mortgage broker. Have them "work" your numbers and make your decision based on the results. It will depend on your short-term and long-term plans. There is some great value in ARM programs right now.
0 votes
, ,
Tue Feb 5, 2013
It depends on how long you plan on staying in the house and what your rate is currently compared to market. I really depends on your goals and they can be discussed with a good loan officer so she/he can help you with options and choices that you have. There is no general answer here that can be given without more information from you. You can reach me at 262-649-5439 or

0 votes
Endre Barath, Agent, Beverly Hills, CA
Mon Feb 4, 2013
Most importantly figure out how long you plan to live in your current residence once you know that add an extra one or two years to it to be on the safe side then check with a Mortgage Broker and read up on what the trends will be for that length of time....and armed with the facts you can determine what the right course of action is for you!

Endre Barath,Jr.
Prudential California Realty
Beverly Hill, CA
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0 votes
Mario Pavli, Agent, Boston, MA
Thu Jan 31, 2013
I agree with Richard on this one.

Best Of Luck
0 votes
Laura Sheedy, Agent, Lexington, MA
Wed Jan 30, 2013
oh memories of the early 80's when the interest rate was in the high teens would be enough to make me obtain a fixed seemed to happen soooo quickly...~laura
0 votes
Richard Shap…, , Framingham, MA
Wed Jan 30, 2013
If you can get a payment on fixed rate near what your payment is on the arm then it may be a good time
0 votes
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