Reverse Mortgage Rates and Origination Fees for Thursday, November 26 2020
Posted 9:35am EST
The lowest interest rate reported by lenders in our adjustable-rate HECM survey was up a significant 0.500% on a lower origination fee (this was due to lenders no longer offering the lower rate - not because of any significant move in market interest rates). The lowest origination fee was unchanged on an unchanged interest rate.
Thursday, November 26 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 November 26 2.083% $4,500 $84,201 + $66,740
Change from November 19 +0.500 -$1,500 +$1,833
Lowest Origination Fee November 26 2.323% $2,500 $86,201 + $66,900
Change from November 19 no change no change no change
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com: All Reverse, Signet Mortgage, Mid America Mortgage, Goodlife Home Loans, Longbridge Financial, Centennial Home Mortgage, Mutual of Omaha Mortgage
2 Adjustable-rate pricing published every Thursday; 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.