Answer
Depending on how long you plan on staying is really your answer. if you know you will be there less than 3 yrs, do a 3 yr, etc. but if there is a chance you are going to be put for over 5 yrs. take a 30 yr fixed. the rates are still low and also you dont have to worry about the flucuations in the mortgage market. the rates really have no where but up to go over the next couple of years. the banks are going to be losing a lot of money from all the forclosures that have started and are going to be rising. i refinanced my house into a 30 yr fixed. i was in a 5 yr arm and i probably will not be here in a couple of years, but in case i wanted the piece of mind.
