Well, not that the market has turned, but the amount of chatter out there in the ranks about ARM loans is increasing by the day. A survey done by FHLMC (uh, Freddie) of over 100 lenders showed that conventional conforming ARMs are starting to attract applicants again, and that their market share may go from 3% in 2009 to almost 10% in 2011. Gone, for the most part, are two-year adjustables, option ARM's, "pick-a-pay" ARMs, etc., and they've been replaced with the 3-1, 5-1, and 7-1. These hybrids have better rates than the 30-yr product, in some cases 1-1.5% better. Lender,better dust off those manuals that define terms like margin, index, and so forth!