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HUD Announces Stricter New Limits for Reverse Mortgages – An AARP Public Policy Institute analysis of HUD data shows that under the new rules, a 62-year-old borrower getting a reverse mortgage with a 5 percent interest rate would be able to draw 11 percent less money from a home than under current rules. For an 80-year-old borrower, there would be a 12 percent reduction.
2018 Reverse Mortgage Interest Rates On The Rise! – When reverse mortgage lenders calculate the amount of loan proceeds that borrowers may be eligible to receive (also known as the Principal Limit), they use what is called the Expected Interest Rate. These longer-term interest rates are tied to a 10-year index which can go up or down depending on market interest rates.
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