Seniors Grow Housing Wealth To Record $9.2 Trillion

Associate Editor

Jul 22, 2021

Senior housing wealth exceeded a record of $9.23 trillion in the fourth quarter of 2020.

Senior housing wealth exceeded a record of $9.23 trillion in the fourth quarter of 2020. The quarterly NRMLA/RiskSpan Reverse Mortgage Market Index (RMMI), a measure of housing wealth, rose in the first quarter of 2021 to 322.89, another all-time high since the index was first published in 2000.

The increase in wealth to this specific demographic was driven by a $329 billion increase in home values. However, this is offset by a 1.2% or $23.9 billion increase in mortgage debt held among seniors.

RiskSpan did note that the increase in RMMI is mainly due to the fact they updated their data sources for estimating the size of the 62+ homeowner population and senior home values.

President of the NRMLA, Steve Irwin said, “New research from Fidelity forecasts the average 65-year-old couple will spend $300,000 on healthcare in retirement, while single women will spend $157,000 and single men $143,000. As the Baby Boomer generation grows older, and the strain on government resources tightens, the strategic use of home equity can help retirees cope with these potential challenges."

About the author

Katie Jensen

Associate Editor

Katie Jensen is a mortgage news reporter at NMP.

Link copied

Published

Jul 22, 2021

People On The Move

ServiceLink Announces Leadership Changes Across Origination And Default

Miriam Moore will become executive advisor, Dave Steinmetz will lead default services, beginning Jan. 1

ServiceLink will move longtime origination president Dave Steinmetz into leadership of its Default Services Division, succeeding Miriam Moore, who will become executive advisor effective Jan. 1, 2027.The transition also puts Chief Financial Officer David Holland in charge of...

Analysis and Data

Mortgage Rate Lock-In: More High-Rate Loans, Few Signs Of A Thaw

With 30-year rates above 7% and nearly half of outstanding loans below 4%, originators face a stubborn obstacle to rebuilding repeat-buyer pipelines

With 30-year mortgage rates above 7%, homeowners holding loans below 4% face a steep financing penalty for moving — and new data show how slowly that obstacle is easing.Nearly half of outstanding mortgages carried rates below 4% in the second quarter, according to Realtor.co...

Feb

Atlanta, GA

More from

Analysis and Data

Mortgage Rate Lock-In: More High-Rate Loans, Few Signs Of A Thaw

With 30-year rates above 7% and nearly half of outstanding loans below 4%, originators face a stubborn obstacle to rebuilding repeat-buyer pipelines

Analysis and Data

Oct 22, 2026

Investor Homebuying Slows, Small Buyers Claim Biggest Share In 15 Years

Smaller investors accounted for 66.2% of investor purchases in the first half of 2026 and relied on cash much less often than mega-investors

Analysis and Data

Oct 22, 2026

California Home Sales Drop 6.5%, Prices Keep Climbing

September’s decline leaves originators competing for fewer purchases, while rising borrowing costs and limited new listings keep affordability under pressure

Analysis and Data

Oct 20, 2026

One In Three Americans Blame Lenders For Housing Crisis Ahead Of Midterms

Voters want lower taxes, insurance costs, and mortgage rates, but 63% doubt the election will improve housing

Analysis and Data

Oct 20, 2026

Rates Above 7% Shrink Buyer Budgets In Loosening Housing Market

Realtor.com finds 66 of 99 metros favor buyers or are moving that way, while rising financing costs have cut borrowing capacity 7.2% since late August for a fixed monthly payment

Analysis and Data

Oct 19, 2026

Pending Home Sales Down 12.7% From A Year Ago, With Declines In All 50 Major Metros

Sellers are cutting asking prices, but near-record monthly payments continue to squeeze buyers and limit purchase demand

Analysis and Data

Oct 16, 2026

Popular