Senior home equity up 2.4% from Q1 to Q2

Those 62 and older are sitting on $6.27 trillion, with a t. But medical expenses are expected to take a toll.

Builder

The National Reverse Mortgage Lenders Association reported Friday that homeowners age 62 and older saw their home equity increase by a combined 2.4% to $6.42 trillion in the second quarter of 2017 from $6.27 trillion in Q1 2017.

According to the NRMLA/RiskSpan Reverse Mortgage Market Index, the growth in housing wealth for retirement-aged homeowners was driven by an estimated 2.1%, or $162 billion, improvement in senior home values, and offset by a 0.8% increase of senior-held mortgage debt that equaled $12 billion. The RMMI, a quarterly measurement of home equity held by older homeowners, rose to 230.17 in Q2 2017, another all-time high since the index was first published in 2000.

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