AgreedAs the Federal funds 30 year rate is currently 3.138%, no rational and above board investor is going to loan money out at 0.99%. I'm not saying that you can't find a quoted teaser rate at that value, but I seriously doubt there is an all in APY of 0.99%. So, yes, I don't believe it, for a variety of reasons.
However, 3-5% is less than the current inflation, and a leveraged purchase may make sense for some folks, but that is an entirely different discussion.
All the best,