The average reverse mortgage borrower will see their Initial Benefits increase 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 3/2/10 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.
