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With what? Dollars that are dipping 8% a year?

Don't know numbers off hand but we had a <4% rate ARM because it was the lowest rate and we liked the flexibility of paying it off asap (or if something happened, paying it off over 30 years) versus a 15-year fixed.

Plenty of other reasons. Others have bad credit or otherwise get significantly lower payments on an ARM compared to fixed.

I guess there are other reasons, but ARMs are definitely not dead. I don't know the numbers or where to get them though.

What are more dead are the "balloon payment" residential mortgages where they may amortize over 30 years but the principal is due in 5 or 10 years.