Chart of the Day: Fixed Rate Reverse Mortgage Spike Tapers Off

Over the past two years, the percentage of fixed rate HECMs has surged to the point where it far outweighs the proportion of adjustable rate loans, a recent chart created by the Department of Housing and Urban Development depicts. However, in 2011 to date, the percentage has showed a slight decrease.

The increase to more than 65% of the market at a fixed rate is a drastic increase over past years when the percentage hovered under or near 10%. To date, 67.4% of HECMs in 2011 are of the fixed rate type, compared with more than 69% in 2010.


The chart was originally presented by HUD’s Karin Hill, HUD’s Office of Single Family Program Development director, at a recent Texas Mortgage Bankers Association conference in Houston.

Written by Elizabeth Ecker

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