In this week’s Reverse Focus podcast, Shannon Hicks details a Reverse Market Insight (RMI) report, noting that reverse mortgage volume this year is on pace to fall short of 2012 levels.
When trying to predict the year’s overall home equity conversion mortgage (HECM) volume, RMI says it’s tempting to say that 2014 will come close to 2012 levels, but the downside scenario is closer to 2005 levels.
Hicks also discusses a recent article in USA Today that advises when a reverse mortgage may not be a viable option for older Americans. Tune in to the podcast for more information.
Despite the near double-digit growth in some of the nation’s largest housing markets, appreciation gains began to weaken overall in the month of May. Hicks explains more trends, noting that home appreciation is beginning to slow and prices are well below expectations.
Finally, there’s good news for potential borrowers as seniors’ financial confidence is on the rise, with 69% of respondents in a recent United States of Aging survey finding it easier to pay monthly bills — up from 64% in 2012.
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- Loan volume projected to fall below 2012 benchmark
- Outstanding debt and reverse mortgages, go to Creditfix to help with those debts.
- Home price appreciation pumping the brakes
- Senior financial confidence on the rise
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Editor’s Note: These posts are sponsored by Reverse Focus.
Written by Emily Study