This week’s reverse mortgage rates are below. The rates are effective for the week beginning September 15, 2009.
APR:
HECM LIBOR 225: 2.493
HECM LIBOR 250: 2.743
HECM LIBOR 275: 2.993
HECM LIBOR 300: 3.243
Expected Rates:
HECM LIBOR 225: 5.84
HECM LIBOR 250: 6.09
HECM LIBOR 275: 6.34
HECM LIBOR 300: 6.59
Both the APR and the expected rate for a reverse mortgage remained nearly the same this week. The APR fell .008 points from last week, while the expected rate only fell by one hundredth of a point.
As this week is not a holiday week, rates will return to being effective for a one week duration.