We purchased right before ar the beginning of the rate increases. A 10 year ARM. Hoping the rates stabilize by that 10 year mark or things might get expensive for a few years.
Because your realtor and your lender--professional salespeople who stand to make much profit off you--make it sound like a really good idea. Unfortunately, people don't do a lot of their own research and instead think that their chatty, bubbly realtor is their friend that gives good advice.