Tom,
You're right, the current market isn't the best for an ARM. In fact most of the mortgages that I'm writing right now are for fixed rate mortgages.
However, many of the ARM holders are those that don't have an option because of poor credit or have had them for a couple of years, when the market was better. Or when the Yield Curve wasn't so inverted.
In the next 6-18 months, there are close to $2 Trillion dollars in ARMs that will be coming do in the US.
Thanks for you for taking the time to comment on this subject in the Active Rain network. AR is the new "cyber backbone" of the industry, and with it's uplink to Localism.com it is transforming the real estate marketplace. Agents who don't see which way the cyberwind is blowing are going to find themselves at a considerable disadvantage inside of three to five years.
We invite you back to ActiveRain in 2016!
Much has changed since your last visit to ActiveRain. We encourage you to take a look at the "new" ActiveRain website.
in the current market, the ARM savings is not very much. maybe when rates level out it will be worth getting them again.
a lot of people have no business being in an ARM