Senior home equity rose by $117 billion in the second quarter, compared to the previous quarter, according to the National Reverse Mortgage Lenders Association.
Housing values rose by $122.8 billion, while mortgage debt shot up by $5.7 billion.
Meanwhile, the NRMLA/RiskSpan Reverse Mortgage Market Index, which tracks trends in the home values, home equity and mortgage debt levels of homeowners over 61, has reached an all-time high of 195.29. The previous record had been set in 4Q 2006, at 192.03.
Since the recession's low of $3 trillion, the aggregate value of senior home equity has increased by 38% and is now worth $4.08 trillion.
