Key Takeaways High mortgage rates have been overwhelming homebuyers for the past three years, and some are turning to a mortgage option that helped fuel the 2008 housing crisis. Adjustable-rate mortgages (ARMs) offer fixed introductory rates that later adjust—typically to a higher rate—to reflect current market conditions. These loans are becoming more popular with homebuyers as mortgage rates remain persistently above 6%. While those homeowners risk having a bigger monthly mortgage payment in a few years, ...