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Home equity for seniors hits nine-year high

MBA: American home purchase activity reaches 9-year high. to deal with the repercussions of interest rates hitting an all-time low last week,

Senior Home Equity Hits Record High. in Daily Dose, Data, Headlines, Market Studies June 23, 2017 763 Views. American homeowners aged 62 and older gained more than 3 percent in home equity over.

Origination · TPO · Servicing · Secondary Markets · Reverse · Home Equity · Mortgage Rates Center. New home sales slip 1.5%, inventory rises to a nine- year high. Zillow Senior Economist Aaron Terrazas is also unconcerned, and. to try to deal with the repercussions of interest rates hitting an all-time.

Over the long term, home equity has proven to be a valuable resource. The collective home equity of Americans 62 and older has grown by 83.7 percent since the RMMI’s starting point. In the first quarter of 2000, seniors owned $2.10 trillion in home equity, compared to $3.34 trillion today.

Senior housing wealth just keeps climbing. According to the NRMLA/RiskSpan Reverse Mortgage Market Index, aggregate home equity levels for homeowners 62 hit $6.9 trillion in the second quarter of.

If you’re 60 or over and own your own home, you could be eligible for a Seniors Equity Loan. Your home is a valuable asset and with our Seniors Equity Loan, you can free up some of that value and use it to achieve some of the things you want to today.

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Senior Home Equity Hits Record High. in Daily Dose, Data, Headlines, Market Studies June 23, 2017 1,324 Views.. or $199.3 billion, improvement in senior home values,

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More Older Homeowners Tap into Their Home Equity. 12. progressed and high unemployment persisted into the early 2010s, also that mortgages are the most significant source of debt among indebted older adults (Butrica and. Nine percent of households borrowed against their HELOC, 3.9 percent.

A home equity loan or line could allow seniors to use the equity in their home to get immediate cash, especially if they have plenty of equity already. But only 20% of people 65 and over surveyed by the National Council on Aging said they were willing to draw on equity, although the 2017 study also indicated confusion and lack of awareness about home-equity-focused options.