“So basically what they’re saying is if I can’t refinance...Foreclosures up 355%Inside NoVA, VA -5 hours ago“If they were put in the right loan program when they started, they would not have to refinance. Moreover, asking your lender whether a rate if fixed or adjustable is important when you're on the look out for the best rate. Remember that adjustable rates, despite their low interest rates, might not have the best mortgage rates. Adjustable rate mortgages only have low interest rates in their first year, after which, rates either tend to go up or go down.