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Lennar's "Once In A Lifetime" Home Deals

Hundreds of Home Nationwide! Once in a Lifetime Deals! That’s what Lennar is promising if you act RIGHT NOW, this weekend…and buy a home. Check it out.

Curiously, the much-maligned Adjustable Rate Mortgage appears to be making a comeback. Lennar is putting their special ARM financing right on the front page of their website, offering ARMs at 2.88 percent for the first year, 3.88 percent for the second year, and 4.88 percent for the remainder of the life of the mortgage (5.38 percent APR—the true rate of interest) for what they are calling a Memorial Day Weekend Sell A Tho. And no mortgage payments for the first 9 months!

Some of these home builder web sites are starting to look like garage sales—all semblance of dignity has gone out the window in an effort to sell homes. Check out Ryland’s site.

Questions? Comments? tradertalk@cnbc.com