With the Fed announcing a reduction in the rates again as a borrower now is the time to get out of the adjustable rate mortgage you have and into a Fannie Mae or FHA fixed rate loan. 

Look for rates to creep down over the next week so if you plan on locking in a loan I would wait to see how the markets play out over this week to see where the average 30 year fixed rates end up. 

I have started my own mortgage company with the help of 3 very excellent colleges so look for many more updates to this blog as we begin to educate you and direct you the right mortgage.  you can look us up at www.directmortgageloans.com