If you have an adjustable rate mortgage (ARM) and are uncertain whether to refinance your mortgage, here's some guidelines that can help.

* Is the next interest rate adjustment on your existing loan likely to increase your monthly payments substantially?

* Will the new interest rate be two or three percentage points higher than the prevailing rates being offered for either fixed-rate loans or other ARMs?

* If the current mortgage sets a cap on your monthly payments, are those payments large enough to pay off your loan by the end of the original term?

* Will refinancing to a new ARM or a fixed-rate loan enable you to pay your loan in full by the end of the term?

You can get a second opinion on whether to refinance your mortgage by visiting the Federal Reserve Board refinancing information site.If the answer to any one of these questions is yes, then you may have a good reason to refinance your mortgage.