January mortgage rates were generally low to very low -- great news for borrowers. In fact, recent rates have been below 7 percent for 30-year, fixed rate loans. The last time rates were at such levels was during April, 1999.

Is this the bottom of the rate cycle? There are plenty of opinions, pro and con, but as usual no one knows. Instead, it's best to view today's rates as good relative to the rates seen during the past two years.

The gap between 30-year fixed-rate loans ("conventional" financing) and adjustable-rate mortgages (ARMs) continues to grow, with ARM start rates at the end of January about .20 percent lower than rates for conventional financing.

Because ARMs represent more risk to consumers -- the rates can go up in the future, something not true with fixed-rate loans -- borrowers generally want ARM start rates 1 percent or more below fixed-rate interest levels. Since rates for ARMs and fixed-rate loans are now fairly close, there's been little interest in ARM financing. Meanwhile, fixed-rate loans with low rates look like good deals for homebuyers and those seeking to refinance.

Generator Sales Electrifying, And Not Just In California

California's well-publicized power shortages have set off a flurry of interest in that old stand-by, the electrical generator. Depending on size, such home-based equipment can power everything from a few light bulbs to an entire house.

The catch is that generators must be handled with caution. Improper ventilation can cause poisonous carbon monoxide to accumulate and incorrect connections to a home electrical system can be a serious hazard for owners and electrical company workers.

If you're interested in a home generator, be certain to get the right size for your needs, have the device installed by a licensed and experienced electrician, and run your equipment a few minutes each week to assure that it's running properly. Good information concerning generators can be found online at the site operated by the U.S. Consumer Product Safety Commission (www.csps.gov).

Moving Day Checklist

Whether you're moving in or moving out, there's no doubt that moving itself can be a complex process. But a good checklist can make moving day much easier, so here are 10 questions to ask before the big day arrives.

1. Have you filled and transferred all prescriptions? Do you have sufficient supplies until you get to your new residence?

2. If you have a pet, have you obtained a copy of all vaccination and other records?

3. Have you contacted all utility companies to change billing information?

4. Are you throwing out old batteries, paint or gasoline. These and similar items must be disposed of properly.

5. Moving with young children? Make sure to have favorite toys and games available.

6. Review the contents of your safety-deposit box and home safe. What's the best way to move your valuables?

7. Have you backed up your computer? Do you have several back-up copies in different places?

8. Is your address book handy? Make certain it's available during the moving process.

9. Driving to your new home? Have your vehicles serviced before you move.

10. Need new address forms? The Postal Service has packets so that mail can be automatically forwarded to your new address.

Why Lenders Ask Those Questions

If you've ever applied for a new mortgage or wanted to refinance your home, you know the drill: Lots of questions from lenders, including some that seem awfully personal.

What's going on?

There's a lot of risk loaning money, and lenders want to reduce their exposure as much as possible. In recent years a series of new risks have emerged because just about anyone can either buy or produce what look like official documents and papers.

For lenders, the big questions look like this:

*Is the sales contract the actual sale agreement, with all addenda and contingencies?

*Is the loan application complete and correct? This means verifying that the stated information is true by calling employers, checking accounts, and reviewing paperwork.

*Are the appraisal, survey, termite check and other reviews fair and accurate? To protect themselves, lenders typically require the use of an appraiser they know and approve.

*Are the people buying the home going to live in it? There's most risk financing an investment property, so lenders want to be sure that when supplying residential financing that the new owners will actually live in the property. A common requirement is that buyers must reside in new homes within 30-days of closing.