We all knew this coming. And people will line up to get it so they can have more house for less monthly payment.
Discussion
The monthly rates will end up being largely the same as the 30-year mortgages, since the market will adjust to whatever "free" money is shoved into it
This. Housing is just going to inflate more as stupid people have access to higher bids. This isn't going to help anyone, it's just going to make the lending class richer.