I’m not as unstable as I might appear. I’m not too concerned about me. It’s others that I truly worry about.

A 5 YR ARM is actually good for people who only plan on having their loan for a max of 6 years.
Many people have a goal of selling or leaving the area, based on age, kids, etc. it DOES serve a purpose for those who understand their options.

It’s not hard to figure out what the guaranteed savings is over the initial 5 years compared to a longer term loan, and it isn’t uncommon to save $15K-$25K, which more than offsets a higher payment in year 6 or maybe even 7.
If the plan is to stay in the loan longer than 6 years, of course it’s silly to gamble on a 5 YR ARM.

It is crazy to pay the 30 YR rate if you don’t need that security, so I respectfully disagree with your last line.