Q4 2016 Home Equity for Seniors Up by $170.7 Billion – NMP Skip to main content

Q4 2016 Home Equity for Seniors Up by $170.7 Billion

Phil Hall
Mar 29, 2017
Retirement-aged homeowners saw a combined 2.8 percent increase of $170.7 billion in home equity during the fourth quarter of 2016

Retirement-aged homeowners saw a combined 2.8 percent increase of $170.7 billion in home equity during the fourth quarter of 2016, which increased their total housing wealth to $6.2 trillion, according to new data from the National Reverse Mortgage Lenders Association (NRMLA).
 
During the fourth quarter, a 2.4 percent increase in home values for owners 62 and older helped to boost the NRMLA/RiskSpan Reverse Mortgage Market Index (RMMI) to 221.75, hitting a record high for the 17-year-old index. On a year-over-year basis, the RMMI index increased by nine percent in 2016, compared to an increase of 8.6 percent in 2015 and eight percent in 2014.
 
“The strong RMMI in the fourth quarter of last year shows that home equity continues to be a valuable asset for homeowners 62 and older,” said NRMLA President and CEO Peter Bell. “It’s time for consumers to study what it means to have home equity and to learn about its strategic uses, including how it can be used to support retirement goals."
Retirement-aged homeowners saw a combined 2.8 percent increase of $170.7 billion in home equity during the fourth quarter of 2016
Published
Mar 29, 2017
More from
Reverse
Reverse Mortgages: Easy Income For Affluent Retirees

Reverse mortgages can provide an essential risk management tool for millions of retirees.

Reverse
Dec 01, 2021
Finance Of America Reverse Updates Its Brand Assets

Finance of America Reverse announced the launch of its updated brand assets with what the company says, “reflects its modern identity and impactful relationships with customers.”

Reverse
Nov 12, 2021
HECM Endorsements Are Moving On Up

Reverse Mortgage Insights' latest report showed a 16.3% (5,029 loans) jump in HECM endorsements in Oct. 2021.

Reverse
Nov 03, 2021
Cherry Creek Expands Its Reverse Mortgage Channel

Cherry Creek Mortgage announced the hire of a new leadership team to expand the company's reverse mortgage division.

Reverse
Nov 02, 2021
Opportunities In Reverse 

For seniors who still have a mortgage, 40% are looking to use the equity they’ve built to eliminate their monthly payment. 

Reverse
Oct 19, 2021
HECM Endorsements Plummet More Than 14 Percent

Home equity conversion mortgage endorsements plummeted 14.3% in August 2021 to 3,679 loans.

Reverse
Sep 14, 2021