Well maybe not yet. I was reading an article in the New York Times  Real Estate section. I am talking about  ARMS or adjustable rate mortgage. They fell out of favor a few years ago since they were consider riskier. Yes they did offer very low rates the first year or two then they could go up and perhaps put the home owner in a difficult situation ,( That is a polite way of saying it)

ARMS have since been modified and the requirements are little tougher -which is a good thing for everyone.

Bank of America had  nearly twice as many ARM transactions last month as it did a year ago.  The most popular are the 5/1 and   7/1 ARM

Starting rates are usually 1% to 1.5% lower than the traditional 30 year fixed rate mortgage.

Still 30 year fixed rate mortgages are historically low and that may be the more conservative way to go.

So, I am sure there will more ARMS coming back to Miami, Coral Gables, Coconut Grove andPinecrest.