Reverse Mortgage Rates and Origination Fees for Thursday, October 18 2018
Posted 9:35am EST
The lowest interest rate reported by lenders in our adjustable-rate HECM survey fell by a significant 0.120% on a higher origination fee quote this week. The lowest origination fee was unchanged on a slightly higher rate quote.
Wednesday, October 18 Report on Pricing of Adjustable-Rate2 HECM Reverse Mortgage3
Pricing by 7 competing Reverse Mortgage Lenders1 Interest Rate Origination Fee Maximum Cash Draw by Owner aged 65 with Home Equity of $300,0004
Lowest Interest Rate October 18 3.838% $5,850 $71,910 + $60,399
Change from October 11 -0.120 +$850 +$1,521
Lowest Origination Fee October 18 4.463% $900 $70,020 + $55,985
Change from September 11 +0.005 no change +$3
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com: All Reverse, Signet Mortgage, First Bank, Retire Secure, Goldwater Bank, Longbridge Financial, Centennial Home Mortgage
2 Adjustable-rate pricing published every Wednesday; Fixed-rate pricing published every Tuesday
3 Mortgages with a maximum rate adjustment of 5%
4 Part of credit line is available immediately, and part after 12 months

View historical market rates on HECM reverse mortgages.