We report on RXTE observations of the neutron star transient currently active in Terzan 5 (also known as IGR J17480-2446; ATels #2919, #2920, #2922, #2924, #2929, #2932, #2933, #2937, #2939, #2940, #2946), which has recently turned into a Z source (Altamirano et al., ATel #2952). The X-ray burst rate has increased gradually (see also ATels #2939, #2952) from October 13th (recurrence time of at least 55 min) to October 16th (recurrence time of 8 to 6 min), accompanied by a gradual increase in the persistent flux (2-16 keV intensity increasing from ~0.1 Crab to ~0.5 Crab).