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Savvy buyers are taking advantage of lower adjustable-rate mortgage (ARM) rates after the Fed cut last week.

While 30 year fixed mortgage rates declined before the Fed cut in response to the 10 year yield going down, the adjustable-rate mortgages (ARMs) saw a more direct impact from the Fed cut and went down as much as 0.25% after the Fed cut. Savvy buyers can get rates in the low 5s on a 5/1 ARM.

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source https://www.reddit.com/r/RealEstate/comments/1onakch/savvy_buyers_are_taking_advantage_of_lower/
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