Reverse Mortgage Rates – September 29, 2009

The average HECM borrower will see the same initial benefits as last week.  Rates have gone down materially in the last couple of days, so we may see an increase in Principal Limits next week

The rates as of 9/29/09 are:

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  • Until Thursday, seniors can still get the old principal limits as long as the lender can obtain a FHA Case Number before Thursday. On Thursday, the “10%” principal limit goes into effect. How is it that principal limits will go up next Tuesday?

    This announcement makes no sense.

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