This Week’s Reverse Mortgage Rates: September 9, 2009

This week’s reverse mortgage rates are below. The rates are effective for the week beginning September 9, 2009. As the HECM CMT is no longer being offered, we will no longer report its rates.

APR:

HECM LIBOR 225: 2.501

HECM LIBOR 250: 2.751

HECM LIBOR 275: 3.001

HECM LIBOR 300: 3.251

Expected Rates:

HECM LIBOR 225: 5.85

HECM LIBOR 250: 6.10

HECM LIBOR 275: 6.35

HECM LIBOR 300: 6.60

The rates for the HECM Libor fell over a tenth of a point this week, a nice development after two weeks of nearly unchanged results. This week’s rates are only good through September 14, 2009.