As you all know last week the FED has again reduced the fund rate by .250%. This news last week created a positive outlook for homeowners. Lenders last week did adjust their fixed interest rates following this positive news and I have already received three phone calls from my previous customers to check if they can convert their ARM’s to a fixed interest rate mortgage. As of now, 30 years fixed interest rate can be obtained under 6% for the first time in a long while. This is a great time for anyone who is currently having an ARM to convert to a fixed rate mortgage. Even if a homeowner has a low interest on a fixed ARM they should consider looking into a 30 year fixed mortgage. (Amit 11/3/07)