Reverse Mortgage Rates Today (HECM and Jumbo)

HECM annual-adjustable rates are quoting in the 7.25% to 8.00% range, HECM monthly-adjustable in 7.50% to 8.25%, and jumbo/proprietary fixed in 9.50% to 10.75% as of the lender-rate-sheet verification below. 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 move; this page is dated.

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 2026-05-20

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, typically 1.50 to 2.75 percentage points. 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% in May 2026 and lender margins of 1.5% to 2.75%, expected rates are sitting in the 6.0% to 7.5% range and the floor is well off the table.

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 near 0.475 in the current HUD table; the same borrower at a 7.0% expected rate lands closer to 0.385. On a $500,000 home that is the difference between a principal limit of $237,500 and one of $192,500, a $45,000 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 range above is the all-in fixed rate as published by HomeSafe, Platinum Preserve, and SecureEquity+; their margins are baked in rather than disclosed separately.

The full cost picture lives on the methodology page.

How this page stays current

The 10-year CMT figure refreshes daily from the Federal Reserve via FRED API series DGS10. The build revalidates that number on a daily cron and renders the date of the most recent observation. The lender rate ranges are verified weekly against each named lender's published rate sheet or parameter sheet, stored at inputs/rates/lender-rates.json with a per-row last_verified timestamp. The two cadences print separately at the top of the page: the CMT timestamp is daily, the lender-range timestamp is weekly. Two dates because two sources update on two schedules.