From the NRMLA Newsletter…..

12 Jun
RMMI Rises Fourth Straight Quarter

The NRMLA/RiskSpan Reverse Mortgage Market Index (RMMI) rose by 1.5% in the first quarter of 2013 to 155.0, its highest level since Q1 2009. The RMMI, which analyzes trends in the home values, home equity and mortgage debt of homeowners 62 and older, is updated quarterly and tracks back to the start of 2000.

The $49.5 billion increase in senior home equity was driven by an estimated $45.1 billion increase in the aggregate value of senior housing and a $4.4 billion decline in mortgage debt held by seniors.

While the index has now risen for four straight quarters, the $3.25 trillion estimated aggregate value of home equity owned by seniors eligible for reverse mortgages is still 19% below its peak level of $4.0 trillion in Q4 2006. The senior housing value estimate is based on the Federal Housing Finance Agency’s Q1 2013 all-transactions Indices, which saw housing values increase in 53% of the 395 metropolitan statistical areas (MSAs) covered by RiskSpan.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: