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.