Interesting analysis and article. The most useful thing is that we get to see what a current rate for this product is, something that the major Canadian provider HomEquity Bank seems surprisingly shy about doing.

Now about that 5.22% rate. It does seem weird that a reverse mortgage that is by definition 200 percent collateralized would have a much higher rate than a conventional mortgage with 5% equity. Mind you, the last US housing crash wiped out the reverse mortgage providers there.