Dear NCRC friends,
For the first time, the Consumer Financial Protection Bureau released Home Mortgage Disclosure Act (HMDA) data inclusive of age. The 2018 data, released in September 2019, is the first to include the ages of applicants and co-applicants, offering insight on the activity of older adult borrowers. NCRC’s new report, Mortgages and Older Adults After COVID-19, utilized this new information to highlight trends in homebuying, aging in place and use of home equity. From downsizing, making home modifications or needing additional resources to pay for healthcare costs or other expenses, older adults are active in the homebuying and refinance markets. |
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