Reverse Mortgage Rates and Origination Fees for
Thursday,
November 7 2019
Reverse Mortgage Rates and Origination Fees for Thursday,
November 7 2019
Posted 9:35am EST
The lowest interest rate
reported by lenders in our adjustable-rate HECM
survey ticked down by 0.031% on a significantly
lower origination
fee. The lowest origination fee was unchanged on
a lower interest rate.
| Wednesday, November 7 Report on Pricing of Adjustable-Rate2 HECM Reverse Mortgage3 | |||
|---|---|---|---|
| Pricing by 7 competing Reverse Mortgage Lenders1 | Interest Rate | Origination Fee | Maximum Cash Draw by Owner aged 65 with Home Equity of $300,0004 |
| Lowest Interest Rate November 7 | 2.925% | $4,499 | $84,202 + $67,302 |
| Change from October 31 |
-0.031  |
-$975 |
+$975  |
| Lowest Origination Fee November 7 | 3.425% | $2,500 | $85,841 + $67,389 |
| Change from October 31 |
-0.031 |
no change |
-$21  |
1 The following lenders report their interest rates and origination fees to www.mtgprofessor.com: All Reverse, Signet Mortgage,
Mid America Mortgage, Retire Secure,
Goodlife Home Loans, Longbridge Financial, Centennial Home Mortgage
2 Adjustable-rate pricing published every
Thursday; Fixed-rate pricing published every Tuesday
3 Mortgages with a maximum rate adjustment of 5%
4 Part of credit line is available immediately, and part after 12 months