Reduce your risk
 djustable rate mortgages have the advantage of lower initial loan payments compared with fixed rate mortgages. But, they also put you at more risk, since your loan payments will increase if interest rates go up.
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| Adjustable rate to a fixed rate |
| If you have an adjustable rate mortgage and don't want to worry about increasing interest rates, or if recent rate increases have raised your monthly payments, then you should consider refinancing your ARM. |
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