This Week's Reverse Mortgage Rates: November 3, 2009

This week’s reverse mortgage rates are below. These rates are effective for the week beginning November 3, 2009.

APR:

HECM LIBOR 225: 2.494

HECM LIBOR 250: 2.744

HECM LIBOR 275: 2.994

HECM LIBOR 300: 3.244

Expected Rates:

HECM LIBOR 225: 5.91

HECM LIBOR 250: 6.16

HECM LIBOR 275: 6.41

HECM LIBOR 300: 6.66

The HECM LIBOR APR remained almost unchanged for the sixth consecutive week. However, the expected rates continued to rise. This week saw a dramatic increase by .08 for the borrowers.  It will be interesting to see when the APR finally changes, and, when it does, whether the expected rates will adjust is the same direction.