Well, 2015 was about 10 years ago now, and both 5 and 7 are less than ten.

So how about you tell us how some of them have already done renewing at 6%+? Did bad things happen?

Edit: clarification

All? I’d be shocked if 5 percent of mortgage originations in the US are ARMs.

According to https://point.com/blog/arm-report-2024, ARMs were 10-20% of mortgages 2015-2020

So I think the GP has a good point.

They were very low leading into the increased interest rates - 4% in 2021. In 2023 it was closer to 10% of originations.

https://www.investopedia.com/arm-applications-grow-as-mortga...

Why the hell would you get an ARM when the fixed rate was 3%? The only way to go from there is up.

There are a lot of people just uninformed people that will take whatever deals presented when that deal means getting a house. The person giving them the deal does not care at all about whether they can afford it or not, especially knowing that the loan was going to be repackaged and sold probably before the first payment was due let alone when the rates change

Where is the ARM mortgage data?