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 purpose were originated.
To learn lots more about these products, see our Comprehensive Guide to Reverse Mortgages and HECMs.
HECM Traditional Rates
| Month | ARM | Fixed |
|---|---|---|
| Sep-24 | 6.85% | 7.98% |
| Jul-24 | 7.45% | 7.68% |
| Jun-24 | 7.47% | 7.68% |
| 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% |
HECM Rate Trends - Traditional
ARM
Fixed
Time Range:12m
Traditional HECM are currently 84.12% of new HECM originations
Show Graph
Data source: HUD.gov
HECM Purchase Rates
| Month | ARM | Fixed |
|---|---|---|
| Sep-24 | 6.79% | 7.56% |
| Jul-24 | 7.40% | 7.75% |
| Jun-24 | 7.38% | 7.35% |
| 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% |
HECM Rate Trends - Purchase
ARM
Fixed
Time Range:12m
HECMs for purchase are currently 6.89% of new HECM originations
Show Graph
Data source: HUD.gov
HECM Refinance Rates
| Month | ARM | Fixed |
|---|---|---|
| Sep-24 | 6.56% | - |
| Jul-24 | 7.04% | - |
| Jun-24 | 7.10% | - |
| 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% |
HECM Rate Trends - Refinance
ARM
Fixed
Time Range:12m
Refinance HECMs are currently 8.99% of new HECM originations
Show Graph
Data source: HUD.gov