Most home owners choose to refinance their mortgages so as to lessen the monthly payments which they make. If the interest rates increase, you're protected. Calculation of the eye percentage can be a complicated task, but it is largely based about the overall market indicators.
A fixed-interest mortgage loan is essentially often the greatest selection for new homeowners. You can still refinance with a lower equity, however you will most likely get benefits if you've a 20% or higher equity.