Reverse Mortgage Rates – September 16, 2008

This week, all Treasury-based HECM’s with a margin of +190 or less will pay the HECM maximum benefits. Ditto for LIBOR-based HECM’s with margins of +131 or less. Using these margins, the initial note rate on a LIBOR HECM will be only 15 bp less than that on a Treasury HECM.

Crazy Days on Wall Street! The 10-year CMT is down to 3.48% — if this holds, next week all Treasury-based HECM’s with a margin of +208 or less will pay the HECM maximum benefits.

The rates of 9/16/08 are:

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