This Week's Reverse Mortgage Rates: November 10, 2009

This week’s reverse mortgage rates are below. These rates are effective for the week beginning November 10, 2009.

APR:

HECM LIBOR 225: 2.492

HECM LIBOR 250: 2.742

HECM LIBOR 275: 2.992

HECM LIBOR 300: 3.242

Expected Rates:

HECM LIBOR 225: 5.90

HECM LIBOR 250: 6.15

HECM LIBOR 275: 6.40

HECM LIBOR 300: 6.65

The HECM LIBOR APR remained almost unchanged for the seventh consecutive week. This week, the expected rates remained nearly unchanged as well, with a one hundredth of a point decline. It is interesting to see the HECM LIBOR APR remain constant for so long, a phenomenon that has not occurred since August 2008.

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.

This Week's Reverse Mortgage Rates: October 27, 2009

This week’s reverse mortgage rates are below. These rates are effective for the week beginning October 27, 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: 5.83

HECM LIBOR 250: 6.08

HECM LIBOR 275: 6.33

HECM LIBOR 300: 6.58

The HECM LIBOR APR remained almost unchanged for the fifth consecutive week. Meanwhile, the expected rates continued to rise, though they only rose by three hundredths of a point. One wonders when the APR will finally change, and, when it does, in which direction it will go.

This Week's Reverse Mortgage Rates: October 20, 2009

This week’s reverse mortgage rates are below. These rates are effective for the week beginning October 20, 2009.

APR:

HECM LIBOR 225: 2.495

HECM LIBOR 250: 2.745

HECM LIBOR 275: 2.995

HECM LIBOR 300: 3.245

Expected Rates:

HECM LIBOR 225: 5.89

HECM LIBOR 250: 6.05

HECM LIBOR 275: 6.30

HECM LIBOR 300: 6.55

The HECM LIBOR APR remained almost unchanged for the fourth consecutive week. However, expected rates rose significantly. The expected rates are up .15 this week. One hopes this is not the beginning of an upward trend. After a short week last week, these rates will be good for a full seven days.

This Week's Reverse Mortgage Rates: October 14, 2009

This week’s reverse mortgage rates are below. These rates are effective for the week beginning October 14, 2009.

NOTE: The rates initially published on October 13th were incorrect by 1 thousandth of a point. Please consult the rates below moving forward.

APR:

HECM LIBOR 225: 2.495

HECM LIBOR 250: 2.745

HECM LIBOR 275: 2.995

HECM LIBOR 300: 3.245

Expected Rates:

HECM LIBOR 225: 5.65

HECM LIBOR 250: 5.90

HECM LIBOR 275: 6.15

HECM LIBOR 300: 6.40

The HECM LIBOR APR remained almost unchanged for the third consecutive week. The expected rate only decreased by one hundredth of a point. Due to the Columbus Day Holiday, these rates will only be in effect from October 14th to October 19th.

This Week's Reverse Mortgage Rates: October 6, 2009

This week’s reverse mortgage rates are below. These rates are effective for the week beginning October 6, 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: 5.66

HECM LIBOR 250: 5.91

HECM LIBOR 275: 6.16

HECM LIBOR 300: 6.41

While the HECM LIBOR APR remained constant this week, the expected rate declined considerably, dropping two tenths of a point. Borrowers should see savings from such an interest rate decline, and hopefully the low rates will continue. This is the first full week that the new PLF limits will be in effect.

This Week's Reverse Mortgage Rates: September 29, 2009

This week’s reverse mortgage rates are below. The rates are effective for the week beginning September 29, 2009.

APR:

HECM LIBOR 225: 2.496

HECM LIBOR 250: 2.746

HECM LIBOR 275: 2.996

HECM LIBOR 300: 3.246

Expected Rates:

HECM LIBOR 225: 5.86

HECM LIBOR 250: 6.11

HECM LIBOR 275: 6.36

HECM LIBOR 300: 6.61

While the HECM LIBOR APR remained constant this week, the expected rate declined slightly. As this is the last week that borrowers will be able to get in under the old Principal Limit Factors (PLF) before the new PLFs go into effect on Thursday, the decline in expected rate is welcome.

This Week's Reverse Mortgage Rates: September 22, 2009

This week’s reverse mortgage rates are below. The rates are effective for the week beginning September 22, 2009.

APR:

HECM LIBOR 225: 2.496

HECM LIBOR 250: 2.746

HECM LIBOR 275: 2.996

HECM LIBOR 300: 3.246

Expected Rates:

HECM LIBOR 225: 5.89

HECM LIBOR 250: 6.14

HECM LIBOR 275: 6.39

HECM LIBOR 300: 6.64

The HECM LIBOR rates rose slightly this week for the first time in about a month. Both the APR and the expected rate went up, though the APR remained nearly the same as the week previously, rising only three one thousandths of a point. The expected rates rose five hundredths of a point.

This Week's Reverse Mortgage Rates: September 15, 2009

This week’s reverse mortgage rates are below. The rates are effective for the week beginning September 15, 2009.

APR:

HECM LIBOR 225: 2.493

HECM LIBOR 250: 2.743

HECM LIBOR 275: 2.993

HECM LIBOR 300: 3.243

Expected Rates:

HECM LIBOR 225: 5.84

HECM LIBOR 250: 6.09

HECM LIBOR 275: 6.34

HECM LIBOR 300: 6.59

Both the APR and the expected rate for a reverse mortgage remained nearly the same this week. The APR fell .008 points from last week, while the expected rate only fell by one hundredth of a point.

As this week is not a holiday week, rates will return to being effective for a one week duration.

This Week's Reverse Mortgage Rates: September 1, 2009

This week’s reverse mortgage rates are below. The rates are effective for the week beginning September 1, 2009. The HECM CMT will no longer be offered.

APR:

HECM LIBOR 225: 2.509

HECM LIBOR 250: 2.759

HECM LIBOR 275: 3.009

HECM LIBOR 300: 3.259

Expected Rates:

HECM LIBOR 225: 5.98

HECM LIBOR 250: 6.23

HECM LIBOR 275: 6.48

HECM LIBOR 300: 6.73

The rates for the HECM LIBOR this week remained almost the same as last week, rising by one hundredth of a point. As the HECM CMT will no longer be offered, we will no longer report its rates.