The average CMT HECM borrower will have benefits that are $6,000 higher on Tuesday the 28th. The average LIBOR HECM borrower will have benefits that are $8,000 higher.

This week, all Treasury-based HECM’s with a margin of +182 or less will pay the HECM maximum benefits. Ditto for LIBOR-based HECM’s with margins of +139 or less. Using these margins, the initial note rate on a LIBOR HECM would be 115 bp more than that on a Treasury HECM. The LIBOR yield curve is more normal this week.

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