(RECAP: Adjustable-rate mortgages are gaining in popularity with interest rates on 30-year, fixed-rate mortgages trending higher these days. According to Freddie Mac’s 30th annual ARM Survey, ARM initial-period rates have increased since last year. “Borrowers who have taken out ARMs generally prefer hybrids, because these products include an extended initial period where the interest rate is fixed. During 2013, ARMs comprised one-in-ten new home-purchase loans, according to the FHFA,” said Frank Nothaft, vice president and chief economist with Freddie Mac.)