Why do ARMs always come with weird numbers on the rates table?

Adjustable-rate mortgage loans come in many shapes and sizes, just like the arms between our shoulders and fingers. Here’s a quick explainer of the numbers you might see in your research.

• 30 year 5/1, 7/1, and 10/1 ARM: You get a low fixed rate for 5, 7, or 10 years, then your rate adjusts every year up or down until the end of the agreed upon 30 year term.
• 40 year 10/1 ARM: You get a low fixed rate for 10 years, then your rate adjusts every year up or down until the end of the agreed upon term of 40 years. (A 40 year term gives you the best chance at the lowest payment possible).