What to expect at HousingWire’s Spring Summit

The focus of the Summit is The Year-Round Purchase Market. Record low rates led to a banner year for mortgage lenders in 2020, and this year is expected to be just as incredible.

Increasing lending and servicing capacity – regardless of rates

Business process outsourcing and digital transformation are proven solutions that more companies in the mortgage industry are turning to. Download this white paper for more.

HousingWire's 2021 Spring Summit

We’ve gathered four of the top housing economists to speak at our virtual summit, a new event designed for HW+ members that’s focused on The Year-Round Purchase Market.

An Honest Conversation on minority homeownership

In this episode, Lloyd interviews a senior research associate in the Housing Finance Policy Center at the Urban Institute about the history and data behind minority homeownership.

Mortgage

Senior housing wealth reaches record high

Housing wealth has risen $32 billion since Q1 2019 alone

A new report shows that seniors are sitting on more housing equity than they ever have before.

According to the National Reverse Mortgage Lenders Association, overall senior housing wealth hit an all-time record in the second quarter, $7.17 trillion.

Homeowners 62 and older also saw their housing wealth increase by 0.5% percent or $32 billion in the second quarter.

The data comes courtesy of the NRMLA/RiskSpan Reverse Mortgage Market Index, which was first released in 2000. According to the report, the RMMI also hit a record high in the second quarter, climbing to 258.44.

(Image courtesy of NRMLA. Click to enlarge.)

The report stated that the increase in senior homeownership wealth was caused by an approximately 0.5%, or $47 billion, increase in senior home values, which was offset by a 0.9%, or $14.6 billion, increase of senior-held mortgage debt. 

“Many retired and soon-to be-retired Americans lack the financial assets for a comfortable retirement, yet the most commonly held and valuable asset for most of them is their home,” said NRMLA’s Executive Vice President Steve Irwin. “Responsible use of home equity may be the best option that ensures they have food, medicine and other basics for a comfortable retirement.”

Most Popular Articles

Do higher mortgage rates mark the end of the refi wave?

As mortgage rates rose over the last week, refi activity fell. But millions of borrowers are still eligible if lenders can get them through the pipeline.

Feb 23, 2021 By

Latest Articles

How lenders can prepare for growing fraud threats

HousingWire recently spoke with Jeffrey Morelli, general manager at Truework, about what lenders can do to prepare for and overcome the growing threat of fraud and data inaccuracy.

Feb 26, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please