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The 5-year ARM is the cheapest it's been in history relative to the 30-year fixed. If you're selling within the next 5 years, you'll save lots of money -- safely -- with an ARM.
Overwhelmingly, refinancing homeowners are choosing fixed rate mortgages over adjustable ones. But is it logical? Go deep on the numbers and see for yourself.
Home buyers would be silly to not at least consider the 5-year ARM right now. As compared to the 30-year fixed, the 5-year ARM is an absolute steal.