X

With half of 2024 gone, it's time for our Mid-year review of HSH's 2024 Mortgage and Housing Market Outlook. Have a look and see how we're doing!

With half of 2024 gone, it's time for our Mid-year review of HSH's 2024 Mortgage and Housing Market Outlook. Have a look and see how we're doing!

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 HECMs closed in the month shown; a hyphen (-) shown for a given month means that either no or a statistically insignificant number of HECMs for the type and purposes were originated.


To learn lots more about these products, see our Comprehensive Guide to Reverse Mortgages and HECMs.

HECM Traditional Rates

Month ARM Fixed
May-24 7.46% 7.69%
Apr-24 7.34% 7.12%
Mar-24 7.30% 5.53%
Feb-24 7.32% 7.23%
Jan-24 7.56% 7.56%
Dec-23 7.71% 7.77%
Nov-23 7.77% 7.39%
Oct-23 7.75% 6.87%
Sep-23 7.69% 6.83%
Aug-23 7.70% 7.05%
Jul-23 7.51% 6.79%
Jun-23 7.26% 6.67%

HECM Rate Trends - Traditional

ARM Fixed
Time Range:12m
Traditional HECM are currently 84.63% of new HECM originations
Show Graph
Data source: HUD.gov

HECM Purchase Rates

Month ARM Fixed
May-24 7.37% 7.68%
Apr-24 7.35% -
Mar-24 7.22% -
Feb-24 7.23% -
Jan-24 7.40% 7.68%
Dec-23 7.62% 7.75%
Nov-23 7.78% 7.18%
Oct-23 7.70% 6.65%
Sep-23 7.64% 6.85%
Aug-23 7.65% 7.11%
Jul-23 7.52% 6.56%
Jun-23 7.19% 6.47%

HECM Rate Trends - Purchase

ARM Fixed
Time Range:12m
HECMs for purchase are currently 6.34% of new HECM originations
Show Graph
Data source: HUD.gov
Get a reverse mortgage quote today.
Valid Zip Code required

HECM Refinance Rates

Month ARM Fixed
May-24 7.00% -
Apr-24 6.95% -
Mar-24 6.90% -
Feb-24 6.88% -
Jan-24 7.17% -
Dec-23 7.44% -
Nov-23 7.55% -
Oct-23 7.61% 6.18%
Sep-23 7.58% -
Aug-23 7.54% -
Jul-23 7.35% 6.71%
Jun-23 7.01% 3.31%

HECM Rate Trends - Refinance

ARM Fixed
Time Range:12m
Refinance HECMs are currently 9.02% of new HECM originations
Show Graph
Data source: HUD.gov
Add to Homescreen?
X
X
Install this web app on your phone :tap and then Add to homescreen