Newsflash: How many buyers are looking at ARMs in today’s market? (CO)

I’m trying to decide between loan options for a jumbo loan. The loan value is ~$840k. I’ve received (what I think) is a pretty solid set of rates from my lender.The rates are:30yr fixed: 3.750% w/ neg 0.5pts – $3890/mo10/1 ARM: 3.250% w/ 0pts – $3656/mo7/1 ARM: 3.125% w/ neg 0.6pts – $3598/mo5/1 ARM: 2.875% w/ neg 0.25pts – $3485/moIs anyone else currently making this decision and leaning towards an ARM in this market? I know rates are super low… but looks like they’ve been declining fairly steadily since 1981?https://fred.stlouisfed.org/series/MORTGAGE30USSo, that would say that going with an ARM was probably “the better choice” for each of the last 36 years? But for some reason the majority of buyers (I think I saw one article that said 90%) are still buying fixed mortgages? Do most people really think it will reverse trend and all of a sudden be worse? Is that expectation of a sudden trend reversal (which would’ve been incorrect for the last ~40yrs) worth the guaranteed loss of $5k per year?(Adding Colorado to the title, but this is really applicable anywhere…)

Read more at https://www.reddit.com/r/RealEstate/comments/6r8uzc/how_many_buyers_are_looking_at_arms_in_todays/?utm_source=ifttt

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