HECM endorsements have been lower than 2014 and 2015 for each of the first two months (and March will continue that pattern), but the gap is at least narrowing. That makes year over year comparisons a little rosier, particularly if we drill into some of the warmer markets as Spring thaws more of the country.
- Denver specifically, and Colorado more broadly are both on a tear this year, up 47.4% and 45.9%, respectively
- Washington state is up 20.9% through Feb to 237 loans, good enough to tie for 7th with North Carolina on volume (with a much higher growth rate although NC is also positive)
- Two adjacent zip codes in St George, UT made the top 10 list nationally and even more impressive is that 29 of the 45 loans there were HECM Purchase
To follow on that last point, among the top 10 zip codes by volume listed in our report 5 more loans were Purchase than were refinances of prior HECMs.
Be sure to check out the full report by clicking the image below.
