Partial Mortgage Prepayments and Housing Credit Growth

Changes in lending rates have an important influence on the pace at which households prepay their mortgages. This has implications for housing credit growth. The effect of the fall in lending rates since October 2011 on prepayments is by itself estimated to have led to a ½ to ¾ percentage point reduction in year-ended housing credit growth as of June 2013.

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Year of publication:	2013
Authors:	Thurner, Marc-Oliver ; Dwyer, Alexandra
Published in:	RBA Bulletin. - Reserve Bank of Australia, ISSN 1837-7211. - 2013, September, p. 31-38
Publisher:	Reserve Bank of Australia
Subject:	Monetary policy \| prepayments \| mortgages \| lending rates \| households \| credit growth

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Extent:	application/pdf
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

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