Ask Shop Rate: Jessica - California

My monthly mortgage payment just went way up. I currently have an ARM (Adjustable Rate Mortgage) mortgage. How can I lower my monthly mortgage payment and keep it from going up? One way of lowering your interest rate is to refinance your current mortgage. You should look into refinancing to a Fixed-Rate mortgage if you do not want your rate to adjust after time. Also, be sure to sign up for our 7 step e-mail tutorial to buying or refinancing a house for more detailed information.