We are getting mortgage through the subsidiary of the builder that is
building our new house. When we asked about the current rate on 30
year fixed and 10 year ARM (both jumbo) the mortage cancellor assigned
to us gave the rates where 10 years ARM was much higher (more than
0.5%) then 30 year fixed. Common sense tells me that this cannnot be
right yet the cancellor insists that sometimes it can happened. Is it
really could happen (checking on other mortgage companies sites 10
year ARM is always lower then 30 year fixed rate, as expected) or
there is something wrong with the mortgage company?

Thanks in advance,
Val