This week’s reverse mortgage rates are below. These rates are effective for the week beginning October 27, 2009.
APR:
HECM LIBOR 225: 2.494
HECM LIBOR 250: 2.744
HECM LIBOR 275: 2.994
HECM LIBOR 300: 3.244
Expected Rates:
HECM LIBOR 225: 5.83
HECM LIBOR 250: 6.08
HECM LIBOR 275: 6.33
HECM LIBOR 300: 6.58
The HECM LIBOR APR remained almost unchanged for the fifth consecutive week. Meanwhile, the expected rates continued to rise, though they only rose by three hundredths of a point. One wonders when the APR will finally change, and, when it does, in which direction it will go.