Congratulations on the growing family! A 5-year ARM can be a great strategy, especially if you're planning to sell or relocate before the initial fixed period ends. Here's what I would recommend. First, I would make sure you're enrolled in an AI Rate Watch program. We use one that monitors mortgage rates daily, and if rates drop approximately 1%–1.5%, depending on the loan amount and potential savings, that's a good time to evaluate whether refinancing out of the ARM makes sense. The biggest factor is how long you expect to stay in the home. If you're still planning to sell or relocate in the next year or two, I would probably lean toward keeping your existing ARM rather than spending money to refinance. If your plans change and you expect to stay longer, I would run a refinance break-even analysis. For example, if refinancing costs $4,000 and saves you $200 per month, your break-even is 20 months. If you expect to keep the new loan well beyond that, refinancing could make sense. One friendly tip: Focus on a low-cost refinance rather than automatically chasing the lowest possible interest rate. Paying thousands in additional points and closing costs to get a slightly lower rate may not make sense if you could be selling in a few years. And remember, you don't have to refinance when the five years are up. Your ARM can continue, and the rate could adjust higher or lower depending on the loan terms. The key is to review your options well before the first adjustment, understand your potential new payment, and make a decision based on your family's plans at that time. Thanks for the great question!