Reverse Mortgage Rates – September 3, 2008

Great news — the new CMT HECM+175 will use the maximum Principal Limit Factors this week. Those of you that followed our forecast email from last Wednesday will have some happy clients. The average HECM client will receive an extra $2,750 in Principal Limit compared to last week.

This week, all Treasury-based HECM’s with a margin of +177 or less will pay the HECM maximum benefits. Ditto for LIBOR-based HECM’s with margins of +105 or less. Using these margins, the initial note rate on a LIBOR HECM will be 40 bp less than that on a Treasury HECM.

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The rates as of 9/3/08 are:

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Reverse Mortgage Rate Updates are brought to you by Jerry Wagner & Ibis Reverse Mortgage Software

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  • I hear differing things on what the new loan limits are going to be in “high cost” areas. I service Nassau & Suffolk Counties on Long Island NY and I am assuming that these are considered High Cost areas.
    Will the new loan limit be $625,500 or some other calculation (115% of the median home price etc.)?
    Thanks
    John C

  • Hi,

    I greatly enjoyed looking through your site and found an informative one for finance related topics.I have also some finance related web sites having more informations regarding various financial problems and its solutions.So,I want to talk to you that will benefit both of us.If you are interested then please contact me at- kimpatrick7@gmail.com

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  • Hi,

    I greatly enjoyed looking through your site and found an informative one for finance related topics.I have also some finance related web sites having more informations regarding various financial problems and its solutions.So,I want to talk to you that will benefit both of us.If you are interested then please contact me at- kimpatrick7@gmail.com

    Thanks,
    Kim

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