This week’s reverse mortgage rates are below. These rates are effective for the week beginning October 14, 2009.
NOTE: The rates initially published on October 13th were incorrect by 1 thousandth of a point. Please consult the rates below moving forward.
APR:
HECM LIBOR 225: 2.495
HECM LIBOR 250: 2.745
HECM LIBOR 275: 2.995
HECM LIBOR 300: 3.245
Expected Rates:
HECM LIBOR 225: 5.65
HECM LIBOR 250: 5.90
HECM LIBOR 275: 6.15
HECM LIBOR 300: 6.40
The HECM LIBOR APR remained almost unchanged for the third consecutive week. The expected rate only decreased by one hundredth of a point. Due to the Columbus Day Holiday, these rates will only be in effect from October 14th to October 19th.