They should calculate what their rate would be if adjusted in today's market and compare that with today's fixed-rate market and assess their personal situation. Do they have adequate funds to reduce or pay off their mortgage at the end of the adjustment period?
They typically had a game plan in mind. A lot of them are still hesitating. Until they really see it starting to move up significantly, it's very difficult for them psychologically to move away from that.
For the last couple of months, I've been contacting clients and giving them that opportunity. You're getting much more bang for your buck doing a fixed-rate mortgage than doing an adjustable-rate mortgage.