Reverse Mortgage Rates – September 30, 2008
September 30th, 2008 | by admin Published in News, Rates, Reverse Mortgage | 1 Comment
Unfortunately our forecast from last week came true. On Tuesday, September 30th, the average HECM borrower will receive considerably lower benefits. Yesterday, the 10-year Treasury rate plummeted today to 3.58%, last week’s average was 3.84%!It doesn’t appear that the 10-year Swap Rate changed much today.
This week, all Treasury-based HECM’s with a margin of +172 or less will pay the HECM maximum benefits. Ditto for LIBOR-based HECM’s with margins of +104 or less. Using these margins, the initial note rate on a LIBOR HECM would be 87 bp less than that on a Treasury HECM. The rates of 9/30 are:
Technorati Tags: Reverse Mortgage,HECM,FHA,HUD,RatesReverse Mortgage Rate Updates are brought to you by Jerry Wagner & Ibis Reverse Mortgage Software - The Industry Standard Since 1995. This is not just a slogan — six of the top 10 reverse mortgage originators plus NRMLA and the AARP use Ibis Software for their websites, retail and wholesale businesses.
Sign up to receive free updates like this by email or can subscribe my RSS feed. Thanks for reading!
- Related Posts
- Reverse Mortgage Rates – October 15, 2008
- Reverse Mortgage Rates – October 21, 2008
- Reverse Mortgage Rates – September 23, 2008
-
Dale Shuey
