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Senior Housing Wealth Reaches Record $7.23 Trillion

NationalMortgageProfessional.com
Apr 03, 2020
www.nrmlaonline.org

Homeowners 62 and older saw their housing wealth grow by 0.5 percent or $39 billion in the fourth quarter to a record $7.23 trillion from Q3 2019, the National Reverse Mortgage Lenders Association (NRMLA) reported in its quarterly release of the NRMLA/RiskSpan Reverse Mortgage Market Index.
 
The RMMI rose in Q4 2019 to 260.52, another all-time high since the index was first published in 2000. The increase in senior homeowners’ wealth was mainly driven by an estimated 0.6 percent or $55 billion increase in home values, offset by a one percent or $16.6 billion increase of senior-held mortgage debt.
 
“The responsible use of home equity may be an option to help seniors stay financially secure during the current market disruptions,” said NRMLA President Steve Irwin.

 
Published
Apr 03, 2020
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