It is Tuesday, June 10^th which means it's time for a reverse mortgage interest rate update.

FHA Reverse Mortgages:

HECM, which is the FHA Home Equity Conversion Mortgage rate is 3.64% (Index is the 1 Year CMT at 2.14% plus a margin of 1.5%)

The fixed rate HECM is at 6.56% to 6.83% (depending on the lender)

Jumbo Reverse Mortgages:

Financial Freedom Cash Account Advantage Reverse Mortgage: 6.72% (Index is 6 month LIBOR at 3.22% plus margin of 3.5%)

Fixed Rate Jumbo Reverse Mortgage: 8.625% (available on home values up to $10,000,000)

Get a reverse mortgage quote for the details and Total Annual Loan Cost (like an APR) as these interest rates do not include closing costs which vary.