The NRMLA/RiskSpan Reverse Mortgage Market Index (RMMI) rose to another all-time high in Q3 2015 of 200.19 from its Q2 2015 level of 195.42. The third quarter of 2015 was the seventh consecutive quarter in which the index set a new high and 18th consecutive quarter in which senior home equity levels have risen. The current estimate of $5.76 trillion for the aggregate value of senior home equity represents a 62% recovery from the post-Recession trough in Q1 2009, when senior equity levels had fallen to an estimated $3.6 trillion. On a quarter-over-quarter basis, the index rose 2.4% in the third quarter, as senior home equity increased by $137.1 billion. The increase in senior home equity relative to the second quarter was driven by an estimated $147.0 billion increase in the aggregate value of senior housing, which was offset by a $9.8 billion increase in senior-held mortgage debt.
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