When your mortgage rate is fixed, you will always know what your payments are. You may pay a little more than if you have an ajustable rate mortgage, but you may also pay less if the interest rates should climb again. In general a fixed rate mortgage is safer and a better deal than an ajustable rate mortgage.

If you are having financial problems and you have an adjustable rate mortgage, you should consider refinancing and getting your mortgage rate fixed. Try to refinance your home loan with the same company. you may not get the lowest interest rate, but you will have little or no closing costs and that will save you many thousands of dollars, both now and over the term of your loan.