1.   And rates on fixed mortgages are already approaching the historic lows reached three years ago.

2.   According to HSH, the average rate on a fixed mortgage is more than two percentage points higher than a year ago.

3.   Ahmanson sells fixed mortgages to investors while keeping adjustable rate loans on its balance sheet.

4.   Falling home prices and sales were set against the backdrop of declining fixed mortgage interest rates.

5.   Historically, holders of adjustable mortgages have had higher default rates than their counterparts with fixed mortgages.

6.   The couple has qualified for Home of Our Own, a federal program that provides developmentally disabled people with long-term, low-interest fixed mortgages.

7.   The rate cut, however, is unlikely to have much direct impact on fixed mortgages, whose rates are set primarily in the bond market.

8.   Thrifts specializing in adjustable rate mortgages are particularly vulnerable because consumers favor fixed mortgages when rates are low, analysts said.

9.   Washington Mutual will sell off most newly-originated fixed mortgages, getting origination and loan servicing income, while giving up the interest payment stream.

10.   It is not clear however when the authority might start buying fixed mortgages from the HKMC.