The value of homes owned by Americans 62 years of age or older rose slightly in the second quarter, but senior home equity declined slightly, according to the NRMLA/Hollister Reverse Mortgage Market Index.The index, launched by the National Reverse Mortgage Lenders Association and The Hollister Group, showed a rise in senior home values from $5.07 trillion to $5.09 trillion in the second quarter and a decline in senior home equity from $4.29 trillion to $4.28 trillion. The RMMI declined overall from 205.3 to 205.1. "We fully expect the reverse mortgage products to continue to take hold as previously untapped home equity value intersects with the aging of the population over the next five to 10 years," said NRMLA president Peter Bell. The organizations can be found online at http://www.nrmlaonline.org and http://www.hollisterllc.com.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry