Rate History

Number of HECM loans originated in each year since program began.

FY 2007 107,367 (40% Increase over 2006)

FY 2006 76,351

FY 2005 43,131
FY 2004 37,829

FY 2003 18,097

FY 2002 13,049

FY 2001 7,781

FY 2000 6,640

FY 1999 7,982

FY 1998 7,896

FY 1997 5,208

FY 1996 3,596

FY 1995 4,165

FY 1994 3,365

FY 1993 1,964

FY 1992 1,019

FY 1991 389

FY 1990 157

Total 345,986

Statistics Source: HUD

HECM Rate History
(T-Bills) Margin Annual Percentage
Year Index (%) (%) Rate (%)

1988               7.52                1.50                            9.02
1989               7.97                1.50                            9.47
1990               8.06                1.50                            9.56
1991               6.40                1.50                            7.90
1992               3.96                1.50                            5.46
1993               3.42                1.50                            4.92
1994               5.47                1.50                            6.97
1995               5.53                1.50                            7.03
1996               5.82                1.50                            7.32
1997               5.63                1.50                            7.13
1998               5.38                1.50                            6.88
1999               5.11                1.50                            6.61
2000               6.08                1.50                            7.58
2001               3.70                1.50                            5.20
2002               2.06                1.50                            3.56
2003               1.07                1.50                            2.57
2004               2.14                1.50                            3.64
2005               3.46                1.50                            4.96
2006               4.37                1.50                            5.87
2007               4.98                1.50                            6.48

Historical Example: The above table shows how the Annual Percentage Rate and the minimum payment for a single $10,000 credit advance would have changed based on the index over the past 15 years. Although the changes to your Annual Percentage Rate may occur each month, the table above only illustrates one rate change per year based on the index values from the first week ending in July of each year.