The NRMLA/RiskSpan Reverse Mortgage Market Index (RMMI) rose in Q2 2016 to 212.45. It is another all-time high since the index began being published in 2000. The estimated senior home equity increased by $135.2 billion to $5.9 trillion.The increase in senior home equity was driven by an estimated $146.0 billion increase in the aggregate value of senior housing, offset by $10.75 billion increase in senior-held mortgage debt. The RMMI index increased by 8.7% year-over-year.
The RMMI in Q1 2016 was revised from 209.12 to 207.60 primarily due to the updated Fed total housing value in the 3rd quarter release. Quote from the Fed's website: "The market value of residential real estate (tables B.101 and B.104) has been revised from 2000: Q1 forward to reflect revised data for the repeat-sales house-price index from LoanPerformance (a division of First American CoreLogic)."
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