As discussed in previous reverse mortgage rate updates, the federally insured Home Equity Conversion Mortgage (HECM) is the dominant reverse mortgage in America. As a result, HECM has become synonymous with reverse mortgages.

But did you know that nearly all HECMs originated today are variable-rate loans? This is in stark contrast to the traditional forward mortgage business, which is dominated by fixed-rate products.

Consider that 99.81% of HECMs originated in June 2024 were adjustable-rate mortgages (ARMs). To put this in perspective, there are currently more monthly reports of Bigfoot sightings in America than details ⇒

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