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.