All good points.

I am not too concerned even if there is a nationwide drop in housing prices because I live in Austin.

As far as housing prices in general, as long as any interest rate hikes happen gradually, that gives the market time to adapt. So maybe prices grow more slowly or hit a plateau for a few years...

But I don't have a crystal ball, and so if I were buying a house right now I'd probably avoid an ARM! :)

Hope you are doing well. :)