This week’s reverse mortgage rates are below. The rates are effective for the week beginning September 22, 2009.
APR:
HECM LIBOR 225: 2.496
HECM LIBOR 250: 2.746
HECM LIBOR 275: 2.996
HECM LIBOR 300: 3.246
Expected Rates:
HECM LIBOR 225: 5.89
HECM LIBOR 250: 6.14
HECM LIBOR 275: 6.39
HECM LIBOR 300: 6.64
The HECM LIBOR rates rose slightly this week for the first time in about a month. Both the APR and the expected rate went up, though the APR remained nearly the same as the week previously, rising only three one thousandths of a point. The expected rates rose five hundredths of a point.