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The marginal effect of government mortgage guarantees on homeownership
Grundl, Serafin; Kim, You Suk - 2019
homeownership. In this paper we use property-level data to estimate the effect of government mortgage guarantees on homeownership … government guarantees, but find no robust effect on homeownership. This finding suggests that government guarantees could be … considerably reduced with modest effects on homeownership, which is relevant for housing finance reform plans that propose to …
Persistent link: https://www.econbiz.de/10012179046
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Improving the 30-year fixed-rate mortgage
Passmore, Stuart Wayne; Haften, Alexander H. von - 2017 - Current draft 8/18/2017
many mortgage lenders. Fixed-COFI mortgages may help some renters gain access to homeownership. These renters may be, for …
Persistent link: https://www.econbiz.de/10011802976
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What are the Perceived Barriers to Homeownership for Young Adults?
Larrimore, Jeff - 2016
declining interest in homeownership, especially among younger households. Potential reasons that have been posited include tight … homeownership for households with heads under age 40. However, it appears that young households' perceived barriers to homeownership …
Persistent link: https://www.econbiz.de/10013210378
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How Much are Car Purchases Driven by Home Equity Withdrawal?
McCully, Brett - 2020
Previous research indicates that changes in housing wealth affect consumer spending on cars. We find that home equity extraction plays only a small role in this relationship. Consumers rarely use funds from equity extraction to purchase a car directly, even during the mid-2000s housing boom;...
Persistent link: https://www.econbiz.de/10012855857
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Do Minorities Pay More for Mortgages?
Bhutta, Neil - 2020
We test for racial discrimination in the prices charged by mortgage lenders. We construct a unique dataset where we observe all three dimensions of a mortgage's price: the interest rate, discount points, and fees. While we find statistically significant gaps by race and ethnicity in interest...
Persistent link: https://www.econbiz.de/10012834174
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How Much Does Racial Bias Affect Mortgage Lending? Evidence from Human and Algorithmic Credit Decisions
Bhutta, Neil; Hizmo, Aurel; Ringo, Daniel - 2022
We assess racial discrimination in mortgage approvals using new data on mortgage applications. Minority applicants tend to have significantly lower credit scores, higher leverage, and are less likely than white applicants to receive algorithmic approval from race-blind government automated...
Persistent link: https://www.econbiz.de/10014238557
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The Cross-Market Spillover of Economic Shocks Through Multi-Market Banks
Berrospide, Jose M. - 2013
This paper investigates the mortgage lending of banks operating in multiple U.S. metropolitan areas during the housing market collapse of 2007-2009. Some metro areas in the U.S. suffered much greater mortgage defaults than others. We use this regional variation to identify whether high mortgage...
Persistent link: https://www.econbiz.de/10013074441
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Bank Failures, Capital Buffers, and Exposure to the Housing Market Bubble
Kara, Gazi - 2020
We empirically document that banks with greater exposure to high home price-to-income or price-to-rent ratio regions before the financial crisis of 2007--2009 have higher mortgage delinquency and charge-off rates and significantly higher probabilities of failure during the crisis even after...
Persistent link: https://www.econbiz.de/10012827818
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Employment in the Great Recession : how important were household credit supply shocks?
García, Daniel - 2018
I pool data from all large multimarket lenders in the U.S. to estimate how many of the over seven million jobs lost in the Great Recession can be explained by reductions in the supply of mortgage credit. I construct a mortgage credit supply instrument at the county level, the weighted average...
Persistent link: https://www.econbiz.de/10012016542
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Measuring mortgage credit availability : a frontier estimation approach
Anenberg, Elliot; Hizmo, Aurel; Kung, Edward; Molloy, … - 2017
We construct a new measure of mortgage credit availability that describes the maximum amount obtainable by a borrower of given characteristics. We estimate this "loan frontier" using mortgage originations data from 2001 to 2014 and show that it reflects a binding borrowing constraint. Our...
Persistent link: https://www.econbiz.de/10011803181