Deciding on whether to refinance out of an adjustable rate mortgage into either another adjustable rate mortgage or a fixed rate mortgage can be more easily resolved with a mortgage payment calculator.  An interest only mortgage calculator or adjustable rate mortgage calculator can help a borrower decide whether they would be better off refinancing to get out of the adjustment to the monthly mortgage payment or riding out the loan once it adjusts.  The results will depend on the current interest rates vs. the mortgage rates when the borrower originally secured the loan and the amount of time the loan will be outstanding.

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