fixed or adjustable?I have a adjustable rate at 7.8% pick a payment, and looking to lower my monthly payments without increasing my debt.I know next year my payment should go down a little, because of the last 12 month average is rated for the next year.the mortgage company quoted me for a 30 year fixed 5.75% at a $200 higher monthly payment, included was a PMA, and tax impound, in which is not the case with the adjustable rate.My question is what is better, refinance or keep the pick a payment?January 24 2009 - Hacienda Heights00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.