.S. micro data to explore the extent to which mortgage activity differed across local areas in response to the first round of … Quantitative Easing (QE1), announced in November 2008. We document that QE1 increased both mortgage activity and real spending but …

monetary policy through its effects on mortgage refinancing. Using detailed loan-level data, we show that regional differences …

and 2007 nonprime vintages becomes more understandable. -- Housing ; mortgage default ; subprime mortgages …

almost half of purchase mortgage originations were associated with investors. In part by apparently misreporting their …

I study the effects of an increase in the supply of local mortgage credit on local house prices and employment by … dissatisfied retail customers from a large, universal bank, UBS, to homogeneous local mortgage lenders. Mortgage lenders located … in the geographic distance between UBS branches and local mortgage lenders as an instrument for deposit growth, I find …

The sensitivity of housing demand to mortgage rates and available leverage is key to understanding the effect of … financing scenarios. We vary down payment constraints, mortgage rates, and non-housing wealth. We find that a relaxation of down … poorer and more credit-constrained borrowers. On the other hand, changing the mortgage rate by 2 percentage points only …

lending constraints in the mortgage market. This view on the fundamental drivers of the boom is consistent with four empirical …, and the fall in mortgage rates. These facts are difficult to reconcile with the popular view that attributes the housing …