Reverse Mortgage Rates Today (HECM and Jumbo)

On the lender rate sheets this site last checked, on May 20, 2026, HECM annual-adjustable rates ran 7.25% to 8.00%, HECM monthly-adjustable 7.50% to 8.25%, and jumbo/proprietary fixed 9.50% to 10.75%. The 10-year Constant Maturity Treasury, the index every HECM expected rate references, printed 4.59% on May 15, 2026 (Federal Reserve H.15 release). Rates have moved since those dates, so check a lender's current sheet before relying on these figures.

Note rate is the rate that accrues to the balance after closing. Add 0.5% annual MIP for HECM effective accrual. "—" indicates not applicable (jumbo programs do not use the HUD PLF expected-rate concept).

Last reviewed 2026-10-12

The 10-year CMT, and why this page begins with it

Every HECM expected rate starts from the 10-year Constant Maturity Treasury, the same index the Federal Reserve publishes daily in its H.15 release (FRED series DGS10). The expected rate a lender quotes on a HECM is the 10-year CMT plus that lender's margin, which each lender sets and which varies; the table above shows the expected rates on the lender sheets this site checked. The expected rate is what HUD's Principal Limit Factor table reads to set how much you can borrow; it is not the rate that accrues on the balance after closing. The note rate, the rate that grows the loan, is the 1-year CMT (or 1-month SOFR for some lenders, post-LIBOR transition) plus a margin, recalculated annually or monthly depending on the product.

Why this matters in practice: when the 10-year CMT rises, the expected rate rises, the PLF drops, and the principal limit drops. The same borrower with the same home value at the same age qualifies for less. The rate moves on the open market; the PLF re-reads it; the borrower's number changes. The freshness of this page is the freshness of those numbers.

The 3.0% expected-rate floor

HUD's Principal Limit Factor tables do not calculate below an expected rate of 3.0%. If the 10-year CMT plus the lender's margin lands under 3.0%, the PLF table treats the expected rate as 3.0% anyway. That floor was set by HUD Mortgagee Letter 2017-12 alongside the restructured PLF tables and the revised mortgage insurance premium schedule.

The floor matters when rates fall. From 2020 through early 2022, when the 10-year CMT sat near 1.5%, the floor was binding for almost every HECM in the market: the PLF was capped at the floor's row regardless of how low the rate ran. With the 10-year CMT at 4.59% on May 15, 2026, HECM expected rates on the May 20, 2026 rate sheets ran 6.34% to 7.34%. That sits inside the 6.0% to 7.5% planning range this site's state and city estimates use, and well above the floor.

How do rates affect what you can borrow?

Higher expected rate → lower Principal Limit Factor → lower principal limit. A 70-year-old at a 5.0% expected rate lands at a PLF of 0.465 in the current HUD table; the same borrower at a 7.0% expected rate lands at 0.370. On a $500,000 home that is the difference between a principal limit of $232,500 and one of $185,000, a $47,500 swing driven entirely by the rate environment.

The calculator carries the current PLF table and reads the expected rate as an input. Move the rate slider and the principal limit moves with it.

Estimate your principal limit →

What is not in this table

The rate range published here is the note rate lenders are quoting on new HECMs and jumbo programs. It does not include:

• The 0.5% annual FHA mortgage insurance premium that accrues to a HECM balance on top of the note rate. Add 0.5 percentage points to the rates above for the effective HECM accrual rate.
• The 2.0% upfront FHA MIP charged at closing on a HECM. Not a rate; a one-time cost.
• Lender servicing fees, where charged. Most national lenders waive these; some smaller lenders charge $25 to $35 per month, accruing to the balance.
• Lender margins on jumbo programs. The jumbo rows above are fixed rates, and a fixed-rate jumbo loan is quoted as one rate with no separate margin; Mutual of Omaha's SecureEquity rate sheet, for example, lists its fixed products by rate alone and shows a margin only for its adjustable product (Mutual of Omaha, SecureEquity rate sheet).

The full cost picture lives on the methodology page.

How this page stays current

The 10-year CMT figure and the lender rate ranges are entered by hand; nothing on this page refreshes automatically. The box at the top of the page prints two dates: the Federal Reserve observation date for the CMT figure and the date the lender ranges were last verified. Check both dates before relying on a figure.