Toll Brothers Inc. (TOL) is dusting off one of the housing boom’s popular sales strategies: This weekend, the luxury home builder rolled out its twist on adjustable-rate mortgages, tempting buyers with 3.75% for seven years on conforming loans.

While the company is one of the first to revive the product since the sector’s implosion, it’s a move likely to be copied, despite the history of this type of loan.

“Anytime the buyer sees the word ‘ARM’ they’re afraid,” said Stephen Melman, the National Association of Home Builders’ director of economic services.

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