Why reverse mortgages may keep surging

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Why HECMs are surging despite an uncertain economy

Which do we choke? Inflation or possibly the nation’s fragile economic recovery? That’s a question the Federal Reserve’s Federal Open Market Committee is grappling with as consumer prices soar and global shortages of goods worsen. CNBC reports, “A number of participants suggested that if the economy continued to make rapid progress toward the Committee’s goals, it might be appropriate at some point in upcoming meetings to begin discussing a plan for adjusting the pace of asset purchases,” the meeting summary said.”  What’s worrisome is the nation’s economy to put it plainly is uneven. The committee’s next meeting is scheduled for June 15-16th.

Businesses reopening and seeking to hire staff after the pandemic shutdowns often find themselves competing with the federal government for employees that thanks to a $300 per week unemployment supplement. The National Federal of Independent businesses found 44% of small businesses had jobs they couldn’t fill. That’s a record high. The Biden administration’s solution?

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