Does fermentation generate heat?

To test my basement for fermentation temperature, I filled up a carboy 1/4 of the way with water. The fermometer sticker has read a steady 62F on the water. So my question is, does that mean that wort will ferment at 62? I've heard that fermentation produces it's own heat and raises its own heat above ambient temps. Is this true? And if so, how much of a heat boost can I expect? I'd like to get an ale fermenting at least 65 or so. Thanks!

Yeasties create their own heat during that orgy we call active fermentation. In a 5 gal batch I've seen anything from 5-10 degrees of difference from ambient. You can use a water bath with ice to keep the temps down if needed.

Depending on the fermentation, your temps might rise 6 degrees or so. I always start my fermentations on the coolest side of the yeast's threshold, then raise it (usually by moving to a warmer area) after the violent part of the fermentation has passed.

Yeah, will cause it to climb up some.
I always ferment in the unfinished side of my basement-ambient temp there is pretty constant year round.