[lotsofpulp]

Depends how much lower the interest rate for 10 year ARM is.

For example,

https://www.mortgagenewsdaily.com/

Reports 30 year fixed is about 7.32% and 5 year ARM is about 6.75%. A 10 year would be somewhere between that, but if I was choosing with less than a 52 basis point difference, I would go with 30 year fixed due to less downside risk of my mortgage blowing up.

At 30 year mortgages of 2% to 4%, no brainer to just go with 30 year even though you might pay a $1k more in interest every year. But you might not, and you definitely will not pay more than a $1k extra in interest since it is locked in.

If the 10/1 ARM was 5% and 30 year was 7%+, I would think about the 10/1 ARM.