This is odd.
No recent system updates. Before when I would hold down an arrow key, my cursor would immediately start moving left/right/up/down but now when I hold it down there is almost a 2 second lag before it begins to move. To clarify, the cursor DOES move one space on keypress but it takes another 2 seconds before rapidly moving in the direction I am pressing.
I should note that this happens across all apps. It is a system-wide change.
I am running Yosemite 10.10.5