This Week's Reverse Mortgage Rates: March 23, 2010

This week's reverse mortgage rates are below. The rates will be in effect from March 23, 2010 to March 29, 2010.

APR:
HECM LIBOR 225: 2.475
HECM LIBOR 250: 2.725

Expected Rates:
HECM LIBOR 225: 5.97
HECM LIBOR 250: 6.22

APRs fell this week, for the first time in nearly a month and a half. Expected rates however rose slightly. We'll see what next week has in store.

This Week's Reverse Mortgage Rates: March 16, 2010

This week's reverse mortgage rates are below. The rates will be in effect from March 16, 2010 to March 22, 2010.

APR:
HECM LIBOR 225: 2.480
HECM LIBOR 250: 2.730

Expected Rates:
HECM LIBOR 225: 6.01
HECM LIBOR 250: 6.26

Breaking a long standing trend, APRs rose this week for the first time in over a month and a half. Expected rates also rose this week. Will the rates go back down? Stay tuned.

This Week's Reverse Mortgage Rates: March 9, 2010

This week's reverse mortgage rates are below. The rates will be in effect from March 9, 2010 to March 15, 2010.

APR:
HECM LIBOR 225: 2.479
HECM LIBOR 250: 2.729

Expected Rates:
HECM LIBOR 225: 5.95
HECM LIBOR 250: 6.20

As we head into March, APRs remain the same for the fifth week in a row. Rates fell again this week, the second significant drop in a row. Hopefully the trend will continue.

This Week's Reverse Mortgage Rates: March 2, 2010

This week's reverse mortgage rates are below. The rates will be in effect from March 2, 2010 to March 8, 2010.

APR:
HECM LIBOR 225: 2.479
HECM LIBOR 250: 2.729

Expected Rates:
HECM LIBOR 225: 6.03
HECM LIBOR 250: 6.28

As we head into March, APRs remain the same for the fifth week in a row. On the other hand, rates fell this week, partly reversing last week's rise.

This Week's Reverse Mortgage Rates: February 23, 2010

This week's reverse mortgage rates are below. The rates will be in effect from February 23, 2010 to March 1, 2010.

APR:
HECM LIBOR 225: 2.479
HECM LIBOR 250: 2.729

Expected Rates:
HECM LIBOR 225: 6.09
HECM LIBOR 250: 6.34

Although APRs remained the same for fourth week in a row. However, rates rose this week by a .1, a significant margin. Will the APR finally change? Stay tuned next week.

This Week's Reverse Mortgage Rates: February 17, 2010

This week's reverse mortgage rates are below. The rates will be in effect from February 17, 2010 to February 22, 2010.

APR:
HECM LIBOR 225: 2.479
HECM LIBOR 250: 2.729

Expected Rates:
HECM LIBOR 225: 5.99
HECM LIBOR 250: 6.24

APRs and expected rates remained mostly the same for the third consecutive week, this time with the small increase in APR while the expected rates dropped slightly. Next week the rate schedule will hopefully return to normal with the end of blizzards and national holidays for the time being.

This Week's Reverse Mortgage Rates: February 11, 2010

After a long delay, this week's reverse mortgage rates are below. The rates will be effective from February 11, 2010 through February 16, 2010.

APR:
HECM LIBOR 225: 2.478
HECM LIBOR 250: 2.728

Expected Rates:
HECM LIBOR 225: 6.01
HECM LIBOR 250: 6.26

APRs and expected rates remained mostly the same this week, with APRs dropping marginally and expected rates rising slightly. The release of rates will be delayed next week due to the Presidents Day federal holiday.

A Note on This Week's Reverse Mortgage Rates: February 9, 2010

As the Federal Reserve is closed this week due to inclement weather, reverse mortgage rates will remain the same this week as last week. However, the Wall Street Journal announced that the one month LIBOR is now at .228, which would be a decline from the previous week. Hopefully this change will not be reversed next week.

This Week's Reverse Mortgage Rates: February 2, 2010

This week's reverse mortgage rates are below. The rates will be effective from February 2, 2010 through February 8, 2010.

APR:
HECM LIBOR 225: 2.479
HECM LIBOR 250: 2.729

Expected Rates:
HECM LIBOR 225: 6.00
HECM LIBOR 250: 6.25

APRs fell this week, while expected rates dropped slightly. It's nice to see that rates continue to fall. The HECM LIBOR 275 margin will no longer be listed, as it is not being offered.

Bank of America Discontinues LIBOR 275

Bank of America announced last week that it was discontinuing offering the LIBOR 275 reverse mortgage product, leaving Bank of America offering only the LIBOR 225 and the LIBOR 250. The change can be seen in light of recent legislation (and proposed legislation) to ensure that borrowers are not pushed into loans with unfavorable terms by brokers seeking more compensation. It will be extremely interesting to see if other lenders follow suit.