The LIBOR index, a commonly used benchmark for the cost of money for lenders, has increased by almost 1% over the last month, pushing up the reverse mortgage interest rates for Libor-based products.

Here's reverse mortgage interest rates as of today:

HECM Reverse Mortgage rate: 3.38% (Index is the 1 Year CMT at 1.88% plus a margin of 1.5%)

Fixed rate Reverse Mortgage - HECM:  6.67% to 6.81% (depending on the bank)

Bank of America Independence Plan 360 jumbo reverse mortgage and Independence Plan 210 jumbo reverse mortgage: Suspended. See yesterday's post.

Cash Account Advantage jumbo reverse mortgage: 6.58% (Index is 6 month LIBOR at 3.08% [rounded] plus margin of 3.5%)

These rates are do not constitute an APR and do not include closing costs. Please contact your lender for a reverse mortgage quote.