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HECM Trends is about finding the big themes in the reverse industry but also unearthing some of the little gems. In that spirit, check out these two surprises at the top of our loan size growth charts on page 2:
HECM endorsements are running 16.1% ahead of last year’s first five months, which is easy to see from the trendline on page 1 of our HECM Trends report.
While industry endorsements slipped a bit in April, year to date volume is still 12.5% higher than last year. Refinance transactions have picked up steam in 2017, coming in at 14% of endorsements. Even so, non-refi loan volume is up 8.8% year over year.
The graph on the first page of HECM Trends makes clear that March was a welcome sign of growth for the reverse industry. 2017 volume is 10.5% higher than Q1 last year and even exceeds Q1 2015. Next month’s edition of this report will show continued encouragement from April’s volume, and we’ll get our first read […]
In February, HECM endorsements experienced a similar drop from January as in 2015, but starting out significantly lower than Jan 2015 and a significant gain in Feb 2016 put the month below either of the recent comparisons on our HECM Trends report.
That being said, there are always opportunities if we look around the country:
HECM endorsements started the year off higher than last January, which makes for a lot of good growth comparisons around the country on the HECM Trends report.
HECM endorsement volume finished the year on the upswing, with several areas around the country showing positive results for the month and year:
HECM endorsements fell very slightly in November, but still managed to get closest to the total from a year earlier that volume has been since March.
With a more favorable comparison than we’ve had for several months, some areas had an easier time showing growth and made further gains against their year ago levels:
HECM endorsements increased 4.8% in October to moderate year to date change to a -16.5% drop. We’re also seeing some growing zip codes join the top 10 list at bottom right of page 1:
HECM endorsements dropped -14.6% from August to September and now show a -17.1% drop year to date. As always, some areas around the country did much better than that, even breaking into growth territory.
Find out where HECMs are still in growth mode in our full report by clicking the image below.
