Wednesday, February 15, 2017

Changing Age Distribution of Homeowners with Mortgages

Homeowners with mortgages are getting older, report researchers from the Federal Reserve Bank of New York. Analyzing CoreLogic and CRISM data, the researchers examined changes over the past decade in the age distribution of mortgage borrowers and the housing equity held by borrowers. The finding: older Americans (aged 61 or older) account for a growing share of mortgage borrowers as home buying slips among younger adults.

Distribution of mortgage borrowers in 2016 (and 2006)
Under age 45: 31% (42%)
Aged 45 to 60: 42% (43%)
Aged 61-plus: 27% (15%)

Source: Federal Reserve Bank of New York, Liberty Street Economics, The Evolution of Home Equity Ownership

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