The average HECM borrower will have benefits that are $3,000 lower on Tuesday the 4th.
This week, all Treasury-based HECM’s with a margin of +164 or less will pay the HECM maximum benefits. Ditto for LIBOR-based HECM’s with margins of +126 or less. Using these margins, the initial note rate on a LIBOR HECM would be 76 bp more than that on a Treasury HECM. The rates as of 11/4/08 are:
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