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The Surety Bond Blog

05
Mar
2014

Senior Home Equity Hits New Six-Year High

Thorsten Becker / Foter / CC BY-NC-ND

The home equity owned by Americans who are over 62 years old is at a new high point. The NRMLA/RiskSpan Reverse Mortgage Market Index (RMMI), which measures this equity, is at 165.7. This is its highest level since 2008, and the trend for increasing seems to be lasting.

In the last two years, seniors’ aggregate home equity increased 12.5% to $3.34 trillion. When the RMMI started to be recorded in 2000, Americans over 62 owned $2.10 trillion in home equity. This is an increase of 83.7% in senior home equity.

The senior mortgage debt is at $1.08 trillion, which is a slight increase, but is still far from the 2009 peak levels.

 

Read the source article at Mortgage News

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