Now they think housing bust will linger to mid 2009...

#76
#76
droski said:
ridiculous. most arms are fixed for 5 years. who is to say 5 years from now interest rates wont be lower than they are now. and historically the average homeowner has been far better in arms than 30 or 15 fixed. If i got a loan now i would definetly get an arm. by far the best value right now.
Click to expand...

Also, many people aren't in homes for more than 5 years before moving (job, upgrade, kids, etc.).

Add to that the fact that many loans don't go the distance (either refinanced or people move).

Nothing wrong with ARMs if you understand what you are getting. For some people, it is a very smart decision.
 
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