should i lock in my variable rate 2nd mortgage now to a fixed rate, or wait for interest rates to fall more?

I have been paying only interest on an ING Orange mortgage for months, on 56,000. loan, and i can convert it to a fixed rate 15 year loan anytime i choose. my payments would be about $ 450.00 mo if I do it now. any smart suggestions on waiting for lower interest rate in few months or doing it now? (I’ve Googled trends and frankly it is confusing).

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