The average rate on 30-year fixed home loans fell to 6.01% on Thursday, a three-year low that is beginning to close the “rate gap” for sellers and restore purchasing power for buyers.

The most common type of reverse mortgage, the Home Equity Conversion Mortgage (HECM), is backed by the U.S. Department of Housing and Urban Development. Homeowners must be 62 or older, have 50% or more home equity, and complete a mandatory counseling session with a HUD-approved counselor. As of 2026, the maximum HECM amount allowed was $1,249,125.

This checklist will help verify that you have all the info required to successfully apply for a USDA home loan in 2026.

Now that the longest government shutdown is over, it’s back to business for the housing market, but don’t expect services to get back to normal overnight. Homebuyers and homeowners who are hoping to secure certain types of mortgages will still need to ...

Home equity loans and home equity lines of credit (HELOCs) allow homeowners to tap into the value of their homes. A home equity loan is a fixed-rate, lump-sum loan that allows homeowners to borrow up to 85% of their home's value and pay that amount back in monthly installments.

Mortgage rates have fallen to their lowest level since 2022, and now borrowers can find even lower-cost loans, experts said.