Refinancing

I received an assignment to post about California mortgage refinance, a product offered by thefundingshop.com. This brought to mind a subject that increasingly weighs on my mind: refinancing our adjustable rate mortgage.

Some people like their ARMs, but others, like myself, prefer the security that comes from knowing that your interest rate will not vary with the ebb and flow of the market. If you, like us, chose an ARM, refinancing to get a fixed rate is usually a good idea. An ARM's rate will vary in relation to interest rates; a fixed mortgage is exactly that: the interest rate will never change during the life of the loan.

Although our credit is excellent, we had to opt for an ARM because Mr. Incredible had only worked at his job for a couple of months and his new job was is a different line of work than was his previous position. The ARM was the best option for us at the time, but I look forward to refinancing it next year.

Do any of you have any advice about or experiences with this topic?