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4,032,857
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

The mortgage companies tell me they are being swamped with inquiries right now 🙂

Jul 09, 2022 08:23 PM
Rainmaker
4,578,538
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Not yet... but I would expect to at some point, especially by clients who are not planning to remain in their home much more than five years.

Jul 10, 2022 05:32 AM
Rainmaker
1,440,111
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

No

Jul 09, 2022 09:27 PM
Rainmaker
3,765,500
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello Paul S. Henderson, REALTOR®, CRS lately, I am noticing some mortgage companies offering ARM mortgages again.

Jul 09, 2022 09:02 PM
Rainmaker
2,059,780
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

ARMs = people who take risk rather than live below ( or at) their means  !

A 6/2 Arm can go up 47% in just 3 years 

Jul 10, 2022 05:41 AM
Rainmaker
4,639,443
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

No flurry I am aware of! Not time for panic yet!

Jul 10, 2022 04:58 AM
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Not seeing it ... yet. 

Jul 10, 2022 07:43 AM
Ambassador
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Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I have been hearing more about them lately but haven't worked with any recent clients utilizing them.

Jul 10, 2022 05:04 AM
Rainmaker
1,373,969
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Not a single ARM yet Paul S. Henderson, REALTOR®, CRS , not since they vanished, but they are being talked about by lenders now and a great option for today's buyers. I coasted all through The Crash and for 11 years on my 7 Year ARM,
(2007-20018) - one of  the best loan strategies I ever used -milked it for all it was worth, then refi'd into a great 30 year fixed with my friend Jason E. Gordon . Used as intended, they work great!

Jul 10, 2022 07:34 AM
Rainmaker
874,738
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

I'm seeing them being promoted, but not sure what % of buyers are starting to use them. A senior loan officer posted this yesterday. "If the home you want is out of reach, you may be able to stretch your buying power with an adjustable-rate mortgage (ARM). Presidential Bank Mortgage's Advantage Loan provides a competitively priced 7/1 ARM that can offer years of fixed principal and interest payments which works well if you plan to sell or refinance before the adjustments occur. Reach out to learn more or if I can answer any home financing questions for you or someone you know."

Jul 10, 2022 06:26 AM
Rainmaker
5,406,567
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Haven't heard of anyone looking at ARMS yet.

Jul 10, 2022 05:59 AM
Rainmaker
826,386
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
Carolina Life RealEstate & Relocation 919-602-8489

Yes, we're seeing them again. Some people think interest rates will go down and they'll have an opportunity to refinance or they just don't think they'll be in their house that long. I have a client getting a 10 year ARM now.

Jul 10, 2022 05:41 AM
Rainmaker
2,701,495
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Cause & effect is making the rounds. 

Jul 10, 2022 05:33 AM
Rainer
359,967
Caroline Gerardo
Licensed in 20 states - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

The difference in interest rate is nominal. I am not encouraging ARM products. Everyone offers them.

Jul 14, 2022 11:51 AM
Rainmaker
855,332
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Keep them in mind - they will fall prey to the next wave of foreclosures.

Jul 13, 2022 06:27 AM
Ambassador
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John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

Yes - they're great products in certain scenarios - the current market being one, where an ARM can help soften the blow of rising rates.  

Any (or at least, most) ARM underwritten today with a fixed term of 5 years or less is qualified on a very conservative basis, with some more flexibility of fixed periods 7 years or longer (giving the vast majority of people time to refi out of the ARM into a lower fixed rate at some point).  The products today are much safer, for the most part, than what we saw in the early 2000s (many of those products were fixed for 2 or 3 years, and strapped with hefty prepayment penalties so people couldn't get out of them).

 

But yes, demand has ticked up as ARM rates have been a little more competitive than the 30 year fixed recently.

Jul 11, 2022 09:39 AM
Rainmaker
709,159
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

I just saw on with a cap of 8%

Jul 10, 2022 10:15 PM
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Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Hadnt noticed a surge in these so far.

Jul 10, 2022 08:43 PM
Ambassador
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Anna Banana Kruchten Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

No and I'm not hearing anyone asking about it either.  Buyers are playing a wait and see game right night - which for their situations is a smart move.

Jul 10, 2022 11:36 AM
Rainer
317,788
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

Yes and lenders recommend it.  Wonder what everyone will think if rates are at 10 in 7 years and they still own the home.  I mean 6 ain't bad.

Jul 10, 2022 11:34 AM
Rainmaker
956,231
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Not here, but understandable with rates up and very risky for those who haven't planned for contingencies! 

Jul 10, 2022 11:05 AM
Rainmaker
7,135,896
Roy Kelley
Retired - Gaithersburg, MD

ARMs are definitely becoming my popular. 

Jul 10, 2022 09:58 AM
Ambassador
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Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate Brokered by Real - St. George, UT
St. George Utah Area Residential Sales Agent

Not yet Paul. 

Jul 10, 2022 08:39 AM