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Mortgage debt among U.S. seniors has surged since 1989, Harvard says
The share of homeowners ages 65 to 79 with an outstanding mortgage rose to 41% by 2022, up from 24% in 1989.
U.S. homeowners carrying mortgage debt into retirement have become far more common, according to figures cited from the Harvard Joint Center for Housing Studies. Yahoo Finance reports that in 1989, 24% of homeowners ages 65 to 79 had an outstanding mortgage.
The outlet adds that among households older than 80, only 3% held a mortgage in 1989. By 2022, that share had climbed to 31%, underscoring how retirement housing costs have changed over time.
Yahoo Finance also links the rising stress around retirement finances to ongoing monthly interest payments, especially for people on fixed incomes. The story notes that mortgage debt is now a major driver of anxiety for many seniors compared with past decades.