Hybrid ARM (3/1 ARM, 5/1 ARM, 7/1 ARM) A combination fixed rate and adjustable rate loan - also called 3/1, 5 / 1,7 / 1 - can offer the best of both worlds: lower interest rates (like ARMs) and a fixed payment for a longer period of time than most adjustable rate loans. (illinoismortgagebroker.com)
Hybrid ARM (3/1 ARM, 5/1 ARM, 7/1 ARM) These increasingly popular ARMS — also called 3/1, 5/1 or 7/1 — can offer the best of both worlds: lower interest rates (like ARMs) and a fixed payment for a longer period of time than most adjustable rate loans. (illinoismortgagebroker.com)
In fact, most adjustable rate loans are very likely to see their rates increase when the Fed Funds rate rises. (centralcoastlending.com)