This week’s reverse mortgage rates are below. These rates are effective for the week beginning June 2, 2009.
APR:
HECM 300: 3.49
HECM 325: 3.74
HECM 350: 3.99
HECM LIBOR 250: 2.816
HECM LIBOR 275: 3.066
HECM LIBOR 300: 3.316
Expected Rates:
HECM 300: 6.59
HECM 325: 6.84
HECM 350: 7.09
HECM LIBOR 250: 6.29
HECM LIBOR 275: 6.54
HECM LIBOR 300: 6.79
Both the expected rates and the APRs increased for the HECM CMT and the HECM LIBOR this week. Expected rates have risen sharply.