A reverse mortgage** is a strictly regulated and insured Federal Housing Administration (FHA) loan specifically designed for seniors. A reverse mortgage allows homeowners who are at least 62 or older to access the equity in their home. Unlike a traditional mortgage or home equity loan, a reverse mortgage does not have to be repaid until … Continue reading What is a reverse mortgage?
The Federal Open Market Committee (FOMC) meets eight times per year to determine increases and decreases in the target Federal Funds Rate. The current target is 1.75% to 2.00%. The FOMC regulates this rate by controlling the amount of currency available in the US economy. The more money available in the marketplace, the faster the … Continue reading Short-Term vs. Long-Term Interest Rates