Posted To: Pipeline Press
Here’s your life graphically under COVID. Many in our business will argue that homes should not be used as piggy banks, COVID or no COVID. For others it is their lifeblood of business. Others say that good moms let you lick the beaters, but great moms turn them off first. (Okay, I just threw that in there to see if you’re paying attention.) Given that 10,000 people a day are turning 62, it is good to know what is happening at that end of the age curve. Housing wealth for American seniors aged 62 and older increased by 1.6% in Q1 2020 , to a new all-time high of $7.54 trillion. Senior home values were one of the main factors leading to the new high, increasing by 1.4%, or $132 billion. With record high housing wealth, reverse mortgages continue to be relevant. Lender and Broker Services…(read more)
Source: Mortgage News Daily
