"The RMMI increased to a reading of 511.99 up from 502.47 in the prior quarter and the highest level since the index was launched in 2000. The data tracks long-term trends in senior home values and equity to gauge potential demand for reverse mortgages. The latest release of the RMMI underscores the extraordinary level of housing wealth held by older Americans, NRMLA President Steve Irwin said."
"At a time when inflation pressures and the fear of outliving one's retirement savings remain top concerns for retirees, home equity stands out as a powerful yet often underutilized financial resource. When incorporated responsibly into a broader retirement strategy, this wealth can help seniors offset rising costs, reduce income shortfalls, and gain greater peace of mind about their long-term financial security."
RMMI rose to 511.99 from 502.47 in the prior quarter, the highest level since the index began in 2000. The index measures long-term trends in senior home values and equity to assess potential reverse-mortgage demand. The increase reflects substantial housing wealth held by older Americans. Inflation pressures and the risk of outliving retirement savings make home equity a powerful but often underused financial resource. Used responsibly within a broader retirement plan, home equity can offset rising costs, reduce income shortfalls, and improve long-term financial security. A 2% rise in home values added about $295.4 billion in senior housing equity, partially offset by a roughly 1% increase in mortgage debt totaling about $22.8 billion.
Read at www.housingwire.com
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