Reverse Mortgage Rates
Product	This Week	Last Week	52-Week Avg	52-Week High	52-Week Low
HECM Monthly Adjusting	6.53%	6.53%	6.363%	6.77%	5.80%
[tag]HECM[/tag] Annual Adjusting	8.13%	8.13%	7.963%	8.37%	7.40%
[tag]Fannie Mae[/tag] [tag]Homekeeper[/tag]	8.625%	8.75%	8.356%	8.75%	7.50%

Rates for federally-insured home equity conversion mortgages (HECM) remain unchanged from last week and continue to run well above their 52-wek averages.

[tag]Reverse mortgages[/tag] are specialized [tag]mortgage products[/tag] available only to [tag]senior citizen[/tag] homeowners. HECMs are the most popular type of reverse mortgage. Interest rates for both annual- and monthly- adjusting HECM loans are indexed to the one-year constant maturity [tag]US Treasury rate[/tag].

Under a reverse mortgage, the lender makes loan payments to the borrower and the loan is repaid when the house is sold or the homeowner dies. The monthly or annually adjusting interest rate determines how fast the loan balance grows.

Visit our reverse mortgage interest rate tool for further information and analysis.

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A Few More Related Articles of Interest:

FAQ: Reverse Mortgage Rates and Fees

HECM Growth By State

Rates on Reverse Mortgages Drop (11/06/06)

HECM Interest Rates (12/11/06)

Reverse Mortgage Rates Rise (12/29/06)