If you have an ARM (Adjustable Rate Mortgage) that you acquired when the rates were low or had one prior, you should consider refinancing.

There’s no need to wait..you should Refinance Now

The rates are still going up, but you can easily get a great rate.  It’s not to say that ARM’s aren’t a great way to leverage low rates, but if you keep them long enough you’ll eventually have to pay. Some ARM’s can only increase once per year, while others can increase several times - that means you could easily see your monthly mortgage payments increase dramatically.