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Reverse Mortgage Rates - Average HECM Rates

Below you'll find the latest average interest rates for Home Equity Conversion Mortgages, the most common type of reverse mortgage. HECM interest rates can vary depending upon purpose of the loan and whether the homeowner selects a fixed or variable rate product. Rates displayed are for loans closed in the month shown. To learn lots more about these products, see our Comprehensive Guide to Reverse Mortgages and HECMs.

HECM Traditional RatesTraditional HECMs are most often used by homeowners to pay off an existing first mortgage, renovate and repair homes, improve household cash flow and more

HECM Rate Trends - Traditional

MonthARMFixed
July-20184.79%4.63%
June-20184.78%4.64%
May-20184.82%4.64%
April-20184.76%4.72%
March-20184.64%4.81%
February-20184.65%4.88%
January-20184.65%4.94%
December-20174.64%4.98%
November-20174.57%5.00%
October-20174.49%5.00%
September-20174.48%4.99%
August-20174.48%4.99%
ARMFixed
Time Range:12m
Traditional HECM are currently 89.1% of new HECM originations

HECM Purchase RatesHECMs for purchase allow homeowners to use equity in their existing home to purchase another home and not have to make monthly payments

HECM Rate Trends - Purchase

MonthARMFixed
July-20184.69%4.66%
June-20184.90%4.66%
May-20184.79%4.65%
April-20184.69%4.68%
March-20184.57%4.66%
February-20184.37%4.75%
January-20184.44%4.82%
December-20174.52%4.90%
November-20174.54%4.95%
October-20174.44%4.90%
September-20174.46%4.96%
August-20174.42%4.96%
ARMFixed
Time Range:12m
HECMs for purchase are currently 6.12% of new HECM originations
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HECM Refinance RatesHECMs can be refinanced, an option used to change from a fixed-rate product to a variable-rate one, or to access more equity created by rising home values

HECM Rate Trends - Refinance

MonthARMFixed
July-20184.88%4.69%
June-20184.90%4.80%
May-20184.93%4.83%
April-20184.79%4.88%
March-20184.72%4.95%
February-20184.75%5.00%
January-20184.68%4.94%
December-20174.62%4.88%
November-20174.57%4.93%
October-20174.49%4.88%
September-20174.48%4.91%
August-20174.49%5.02%
ARMFixed
Time Range:12m
Refinance HECMs are currently 4.78% of new HECM originations
Data source: HUD.gov