Lea, Michael J.; Zorn, Peter M. - In: Real Estate Economics 14 (1986) 3, pp. 432-447
In this study we examine the effects of economic fluctuations on the repayment behavior of a portfolio of adjustable-rate mortgages (ARMs). Because the U.S. experience with ARMs is quite recent, we have used data on a form of ARM used in Canada, the rollover mortgage. The results of our analysis...