This week’s reverse mortgage rates are below. These rates are effective for the week beginning June 16, 2009.
APR:
HECM 300: 3.56
HECM 325: 3.81
HECM 350: 4.06
HECM LIBOR 250: 2.818
HECM LIBOR 275: 3.068
HECM LIBOR 300: 3.318
Expected Rates:
HECM 300: 6.89
HECM 325: 7.14
HECM 350: 7.39
HECM LIBOR 250: 6.72
HECM LIBOR 275: 6.97
HECM LIBOR 300: 7.22
While the expected rate of the HECM LIBOR fell this week, APRs continued to rise dramatically, following a pattern we’ve seen in recent weeks.