AdministratorNovember 29, 2020 at 6:01 am
From the mailbag: Do the calculators use the CMT index?
AdministratorNovember 29, 2020 at 6:03 am
For now, they do not. Currently, the reverse mortgage industry uses the LIBOR index to set the expected rate (used to calculate proceeds) and initial interest rates (the actual note rate on the variable-rate HECM). This is set to change early in 2021. Once the change is implementing, we’ll update our calculators to use the new CMT index.