During the Last three years mortgage rates have risen relative to yields on comparable maturity bonds. The questions … between early 198 and early 1981 in coupon rates on GNMA mortgage pools relative to ''the" rate on a comparable portfolio of … Treasury bonds to be about 100 basis points. We attribute the increase to a rise in the terminations premia built into mortgage …

in total mortgage issuance. Using a nine-country panel and instrumental variables methods, we present evidence that near …-term (one-year) rational expectations of future movements in ARM rates do affect mortgage choice, particularly in more recent …

We document the portfolio activity of federal housing agencies and provide evidence on its impact on mortgage markets … in agency mortgage holdings. Based on those regulatory events that we classify as unrelated to short-run cyclical or … credit market shocks, we find that an increase in mortgage purchases by the agencies boosts mortgage lending, in particular …

-rate mortgages (FRMs) that went into Fannie Mae and Freddie Mac mortgage pools increased from under 5 percent to over 50 percent. The … choose FRMs than ARMs, to decide to own rather than rent, and to own larger houses. Moreover, traditional mortgage portfolio …

In this paperwe examine the household's option to prepay or call a standard fixed-rate mortgage. Results based on … in mortgage contract design on the value of the prepayment option are encouraging. For example, our estimate of the …

economic value of these assets in savings and loan associations' portfolios varies from one form of mortgage to another. For … either of the fixed interest rate contracts, the cash flow from the mortgage is constant as long as it has not been prepaid … mortgage holders resulting from interest rate changes. Our estimate is based on a sample of 4,000 mortgages issued in …

The paper begins with the development of models explaining the mortgage refinancing and assumption decisions of … results for: (1) the impact of a decline in mortgage rates on the asset portfolio yields of mortgage lending institutions and … (2) the effect of the observed rise in interest rate volatility, including the optimal terminations response of mortgage …

This paper measures the impact of nonassumable, fixed-rate, long-term mortgage financing on household mobility and …, fixed-rate mortgage is largely responsible for bath sluggish housing demand in the l967-79 period and its surge in the 1976 … between current mortgage rates and those existing in the19705 and the resultant huge capital gains on existing mortgages does …