Dokko, Jane K.; Keys, Benjamin J.; Relihan, Lindsay E. - 2019
At their peak in 2005, roughly 60 percent of all purchase mortgage loans originated in the United States contained at … house prices and non-traditional features of mortgage contracts. We apply a break-point methodology and find that in housing … findings support the view that a change in mortgage contract availability and a shift toward subprime borrowers helped to fuel …
