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.