Should I go fixed or adjustable: www.refinancingright.com does a great job explaining the differences and the pros and cons. Factors such as how long do you plan to live in your house, what are the rates looking like right now. Some people like the peace of mind know that their mortgage payment will be fixed for the remaining of the life of the loan but if you look at statistics, it has shown that over 80% of people refinance their current mortgage within the first 7 years of their loan. Fixed rate mortgages tend to have higher rates than Adjustable rate mortgages. So there is lots to consider, check out the website for further guidance.