We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. May 7, 2026 / 2:44 PM EDT / CBS News Add CBS News on Google A reverse mortgage has multiple timely advantages for seniors this month. Getty Images/iStockphoto News in late April that the Federal Reserve was keeping interest rates on hold once again, and not proceeding with a rate cut that would benefit millions, wasn't unexpected. But it was still a disappointing development for many, especially seniors and older adults who have been contending with elevated interest rates on everything from mortgages to credit cards for multiple years now. While a Fed rate cut wouldn't have automatically led to dramatically lower rates, it would have certainly helped. And with no Fed meeting on the calendar for May and no rate cut even planned right now for June, older adults tied to tight budgets may want to seriously consider looking elsewhere for financial relief.…