This type of reverse mortgage means that senior homeowners have a better opportunity now to obtain a low fixed rate Reverse Mortgage than at any time.

Many senior borrowers who start looking into reverse mortgages are not aware of it, but there is a fixed rate Home Equity Conversion Mortgage (HECM) available. The HECM or "Heck-um" as you may hear it called, is the government insured reverse mortgage program offered by lenders and insured by the Federal Housing Administration.

We were curious to see if the fixed rates would really have been a better deal throughout the years for borrowers based on this historical information compared to a fixed rate at today’s low interest rates.