This Week’s Reverse Mortgage Rates: September 1, 2009

This week’s reverse mortgage rates are below. The rates are effective for the week beginning September 1, 2009. The HECM CMT will no longer be offered.

APR:

HECM LIBOR 225: 2.509

HECM LIBOR 250: 2.759

HECM LIBOR 275: 3.009

HECM LIBOR 300: 3.259

Expected Rates:

HECM LIBOR 225: 5.98

HECM LIBOR 250: 6.23

HECM LIBOR 275: 6.48

HECM LIBOR 300: 6.73

The rates for the HECM LIBOR this week remained almost the same as last week, rising by one hundredth of a point. As the HECM CMT will no longer be offered, we will no longer report its rates.