Senior Home Equity Levels Totals $12.84T in Q4


Darryl Hicks, 202-939-1784,
National Reverse Mortgage Lenders Association

For Immediate Release

WASHINGTON (March 13, 2024) – Homeowners 62 and older saw their housing wealth fall by $119 billion in the fourth quarter to $12.84 trillion, according to the latest quarterly release of the NRMLA/RiskSpan Reverse Mortgage Market Index.

The NRMLA/RiskSpan Reverse Mortgage Market Index (RMMI) decreased in Q4 2023 to 449.02, a slight decline from Q3 when it was 453.19.

Senior home values fell from an all-time high of $15.280 trillion in Q3 to $15.181 trillion in Q4, while senior mortgage debt increased by $19.8 billion.

In its analysis, Riskspan said the decline in senior home equity corresponds to the seasonal downturn in home sales, which typically occurs during the winter months.

“A recent report from the Transamerica Center for Retirement Studies® (TCRS) – 23 Facts About Women’s Retirement Outlook – highlights the challenges that women face maintaining a comfortable lifestyle in retirement,” says NRMLA President Steve Irwin. “Now may be an appropriate time to consider the strategic use of home equity to help improve their retirement security.”

About Reverse Mortgages
Reverse mortgages are available to homeowners who are 62 and older with significant home equity. They are a versatile financial tool that seniors can use to borrow against the equity in their home without having to make monthly principal or interest payments as with a traditional “forward” mortgage or a home equity loan. Under a reverse mortgage, funds are advanced to the borrower, and interest accrues, but the outstanding balance is not due until the last borrower leaves the home, sells, or passes away.

To date, more than 1.3 million households have utilized an FHA-insured reverse mortgage to help meet their financial needs. For more information, please visit

About the National Reverse Mortgage Lenders Association
The National Reverse Mortgage Lenders Association (NRMLA) is the national voice for the industry and represents the lenders, loan servicers, and housing counseling agencies responsible for more than 90 percent of reverse mortgage transactions in the United States. All NRMLA member companies commit themselves to a Code of Ethics & Professional Responsibility. Learn more at

About RiskSpan, Inc.
RiskSpan offers end-to-end solutions for data management, risk management analytics, and visualization on a highly secure, fast, and fully scalable platform that has earned the trust of the industry’s largest firms. Combining the strength of subject matter experts, quantitative analysts, and technologists, the RiskSpan platform integrates a range of data-sets–including both structured and unstructured–and off-the-shelf analytical tools to provide you with powerful insights and a competitive advantage. Learn more at