The average reverse mortgage borrower will see their Initial Benefits decrease by $2,750 from last week.

Ibis considers an average borrower to be a 73-year old in a $250,000 home that chooses a LIBOR+250 HECM.  The rates as of 4/6/10 are:

Reverse 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.

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