If youre facing an upcoming rate change on your adjustable rate mortgage, you may be a bit worried. The Federal Reserves recent credit tightening in the last period has meant that interest rates, especially short-term rates, have risen dramatically.

With mortgage rates on the lower side, the choice to cash in and refinance your mortgage may be tempting, but before you make that decision here are a few facts to help you decide if it is the best financial choice for you and your family.

If you are in the market for a new home, or it is time to refinance your mortgage, there is no doubt you have been looking at the current interest rates.