This week’s reverse mortgage rates are below. These rates are effective for the week beginning July 7, 2009.
APR:
HECM CMT 300: 3.53
HECM CMT 325: 3.78
HECM CMT 350: 4.03
HECM LIBOR 250: 2.801
HECM LIBOR 275: 3.051
HECM LIBOR 300: 3.301
Expected Rates:
HECM CMT 300: 6.53
HECM CMT 325: 6.78
HECM CMT 350: 7.03
HECM LIBOR 250: 6.25
HECM LIBOR 275: 6.50
HECM LIBOR 300: 6.75
Both the HECM Libor and the HECM CMT saw significant drops in Expected Rates this week, although the APR of the HECM CMT rose.