Reverse mortgages can unlock big financial flexibility, but some options may work better than others right now.

Mortgage rates dropped to a 1-year low, and recent data shows a clear shift toward buyers across the U.S. housing market. Here's why a mortgage rate lock could be a smart move right now.

Better reports a government shutdown may lower mortgage rates but introduces processing delays, especially for FHA and VA loans.

A reverse mortgage can help eliminate remaining mortgage payments. Paying off an existing home loan with a reverse mortgage can free up monthly income in your retirement budget. This type of loan can supplement Social Security or pension income. Couples can choose monthly payouts or a line of credit to cover expenses as needed.

Today, the mortgage interest rate on a 30-year fixed mortgage is 6.19%, according to the Mortgage Research Center, while the average rate on a 15-year mortgage is 5.27%. On a 30-year jumbo mortgage, the average rate is 6.

E Mortgage Capital fined $669,000 for unlicensed lending activities by regulators in Oregon, Hawaii, Idaho, and Texas.