Reply #14: You're exactly right! [View All]

[abbeyco]

I went through the same thing with my refi last year and it's much better to lock in the longer term but pay it at the level of the shorter term. In the event you need some funds for some sort of emergency, then make the regular payment until you can bump back up to the higher level. You won't blow your credit or jeopardize your home if something happens.

Good luck!