With mortgage rates being the lowest in years, will my adjustable rate go lower when it comes to renew?

mama bear27 asked:


I have an adj mortg rate, that’s set to renew in september, and with mortg rates being low right now, could it go lower than it is now? Right now it’s high, and that’s what my mortgage started with…not a low int rate.
one has a ARM(Libor index), and the other is a fixed rate.

Jerrold