With all the financial decisions that need to be made when purchasing a home, choosing the options that make the best sense for you can seem overwhelming.

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.