This week’s reverse mortgage rates are below. These rates are effective for the week beginning June 9, 2009.
APR:
HECM 300: 3.50
HECM 325: 3.75
HECM 350: 4.00
HECM LIBOR 250: 2.821
HECM LIBOR 275: 3.071
HECM LIBOR 300: 3.321
Expected Rates:
HECM 300: 6.70
HECM 325: 6.95
HECM 350: 7.20
HECM LIBOR 250: 6.52
HECM LIBOR 275: 6.77
HECM LIBOR 300: 7.02
Both the expected rates and the APRs increased for the HECM CMT and the HECM LIBOR this week. Expected rates continued to rise sharply, continuing last week’s ascent.