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.