This Week's Reverse Mortgage Rates: August 25, 2009

This week’s reverse mortgage rates are below. The rates are effective for the week beginning August 25, 2009.

APR:

HECM CMT 300: 3.44

HECM CMT 325: 3.69

HECM CMT 350: 3.94

HECM LIBOR 225: 2.516

HECM LIBOR 250: 2.766

HECM LIBOR 275: 3.016

HECM LIBOR 300: 3.266

Expected Rates:

HECM CMT 300: 6.48

HECM CMT 325: 6.73

HECM CMT 350: 6.98

HECM LIBOR 225: 5.97

HECM LIBOR 250: 6.22

HECM LIBOR 275: 6.47

HECM LIBOR 300: 6.72

Rates fell this week for both the HECM CMT and the HECM LIBOR. The expected rate for the HECM LIBOR fell over two tenths of a point. The expected rate for the HECM CMT fell just under two tenths of a point. It is great to see the rates declining at such a dramatic rate again.

Reminder: The HECM CMT will cease to be offered on September 1st. This is the last week we will list the rates for the HECM CMT.

This Week's Reverse Mortgage Rates: August 18, 2009

This week’s reverse mortgage rates are below. The rates are effective for the week beginning August 18, 2009.

APR:

HECM CMT 300: 3.47

HECM CMT 325: 3.72

HECM CMT 350: 3.97

HECM LIBOR 225: 2.523

HECM LIBOR 250: 2.773

HECM LIBOR 275: 3.023

HECM LIBOR 300: 3.273

Expected Rates:

HECM CMT 300: 6.67

HECM CMT 325: 6.92

HECM CMT 350: 7.17

HECM LIBOR 225: 6.20

HECM LIBOR 250: 6.45

HECM LIBOR 275: 6.70

HECM LIBOR 300: 6.95

The APRs and expected rates for both the HECM CMT and the HECM LIBOR declined this week. While rates for the HECM LIBOR have yet to fall to the level they were at earlier this month, the decline in expected rate of five hundredths of a point will still be nice for borrowers. The rates for the HECM CMT are the same as they were the week of August 4th.

Reminder: The HECM CMT will cease to be offered on September 1st.

This Week's Reverse Mortgage Rates: August 11, 2009

This week’s reverse mortgage rates are below. The rates are effective for the week beginning August 11, 2009.

APR:

HECM CMT 300: 3.49

HECM CMT 325: 3.74

HECM CMT 350: 3.99

HECM LIBOR 225: 2.526

HECM LIBOR 250: 2.776

HECM LIBOR 275: 3.026

HECM LIBOR 300: 3.276

Expected Rates:

HECM CMT 300: 6.77

HECM CMT 325: 7.02

HECM CMT 350: 7.27

HECM LIBOR 225: 6.25

HECM LIBOR 250: 6.50

HECM LIBOR 275: 6.75

HECM LIBOR 300: 7.00

While the APR for both the HECM CMT and the HECM LIBOR remained mostly unchanged from last week, the expected rates for the HECM LIBOR and HECM CMT rose again this week. The increase was fairly significant, amounting to a tenth of a point on the HECM CMT and slightly more than a tenth of a point on the HECM LIBOR.

Reminder: The HECM CMT will cease to be offered on September 1st.

This Week's Reverse Mortgage Rates: August 4, 2009

This week’s reverse mortgage rates are below. The rates are effective for the week beginning August 4, 2009.

APR:

HECM CMT 300: 3.49

HECM CMT 325: 3.74

HECM CMT 350: 3.99

HECM LIBOR 250: 2.779

HECM LIBOR 275: 3.029

HECM LIBOR 300: 3.279

Expected Rates:

HECM CMT 300: 6.67

HECM CMT 325: 6.92

HECM CMT 350: 7.17

HECM LIBOR 250: 6.39

HECM LIBOR 275: 6.64

HECM LIBOR 300: 6.89

Rates for the HECM LIBOR and HECM CMT rose again this week, though the APR for the LIBOR declined. However, the rate of increase in expected rates was lower this week than it has been in past weeks.

Reminder: The HECM CMT will cease to be offered on September 1st.

This Week's Reverse Mortgage Rates: July 28, 2009

This week’s reverse mortgage rates are below. These rates are effective for the week beginning July 28, 2009.

APR:

HECM CMT 300: 3.47

HECM CMT 325: 3.72

HECM CMT 350: 3.97

HECM LIBOR 250: 2.785

HECM LIBOR 275: 3.035

HECM LIBOR 300: 3.285

Expected Rates:

HECM CMT 300: 6.62

HECM CMT 325: 6.87

HECM CMT 350: 7.12

HECM LIBOR 250: 6.31

HECM LIBOR 275: 6.56

HECM LIBOR 300: 6.81

Rates for the HECM LIBOR and HECM CMT rose again this week, though the APRs for both products declined. The expected rate for the HECM LIBOR rose by a tenth of a point this week, while the expected rate for the HECM CMT rose by seven hundredths of a point. One would hope that the rates will stop rising soon.

This Week's Reverse Mortgage Rates: July 21, 2009

This week’s reverse mortgage rates are below. These rates are effective for the week beginning July 21, 2009.

APR:

HECM CMT 300: 3.48

HECM CMT 325: 3.73

HECM CMT 350: 3.98

HECM LIBOR 250: 2.786

HECM LIBOR 275: 3.036

HECM LIBOR 300: 3.286

Expected Rates:

HECM CMT 300: 6.55

HECM CMT 325: 6.80

HECM CMT 350: 7.05

HECM LIBOR 250: 6.21

HECM LIBOR 275: 6.46

HECM LIBOR 300: 6.71

Expected rates for the HECM LIBOR and HECM CMT rose dramatically this week, increasing by over a tenth of a point for each. This occured despite the fact that the APR for the LIBOR declined.

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

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

APR:

HECM CMT 300: 3.46

HECM CMT 325: 3.71

HECM CMT 350: 3.96

HECM LIBOR 250: 2.793

HECM LIBOR 275: 3.043

HECM LIBOR 300: 3.293

Expected Rates:

HECM CMT 300: 6.42

HECM CMT 325: 6.67

HECM CMT 350: 6.92

HECM LIBOR 250: 6.10

HECM LIBOR 275: 6.35

HECM LIBOR 300: 6.60

Both the HECM Libor and the HECM CMT saw significant drops in Expected Rates and APRs this week. Hopefully the rates will continue to fall, as they have the last few weeks.

This Week's Reverse Mortgage Rates: July 7, 2009

This week’s reverse mortgage rates are below. These rates are effective for the week beginning July 7, 2009.

APR:

HECM CMT 300: 3.53

HECM CMT 325: 3.78

HECM CMT 350: 4.03

HECM LIBOR 250: 2.801

HECM LIBOR 275: 3.051

HECM LIBOR 300: 3.301

Expected Rates:

HECM CMT 300: 6.53

HECM CMT 325: 6.78

HECM CMT 350: 7.03

HECM LIBOR 250: 6.25

HECM LIBOR 275: 6.50

HECM LIBOR 300: 6.75

Both the HECM Libor and the HECM CMT saw significant drops in Expected Rates this week, although the APR of the HECM CMT rose.

This Week's Reverse Mortgage Rates: June 30, 2009

This week’s reverse mortgage rates are below. These rates are effective for the week beginning June 30, 2009.

APR:

HECM 300: 3.48

HECM 325: 3.73

HECM 350: 3.98

HECM LIBOR 250: 2.810

HECM LIBOR 275: 3.060

HECM LIBOR 300: 3.310

Expected Rates:

HECM 300: 6.63

HECM 325: 6.88

HECM 350: 7.13

HECM LIBOR 250: 6.39

HECM LIBOR 275: 6.64

HECM LIBOR 300: 6.89

Both the HECM Libor and the HECM CMT saw significant drops in Expected Rates this week, as well as declines in their APRs.

This Week's Reverse Mortgage Rates: June 23, 2009

This week’s reverse mortgage rates are below. These rates are effective for the week beginning June 23, 2009.

APR:

HECM 300: 3.51

HECM 325: 3.76

HECM 350: 4.01

HECM LIBOR 250: 2.817

HECM LIBOR 275: 3.067

HECM LIBOR 300: 3.317

Expected Rates:

HECM 300: 6.75

HECM 325: 7.00

HECM 350: 7.25

HECM LIBOR 250: 6.47

HECM LIBOR 275: 6.72

HECM LIBOR 300: 6.97

Both the HECM Libor and the HECM CMT saw significant drops in Expected Rates this week and small declines in their APRs. Hopefully rates will continue to trend downwards.