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Haines, Cabray L.; Rosen, Richard J. - In: Economic Perspectives (2007) Q I, pp. 16-35

The rapid rise of real estate prices in recent years has led to fears of a housing price bubble. But, to determine whether there has been a bubble–and whether the bubble is bursting–one needs to know what home prices “should” be. The authors estimate a simple model of home prices and...

Persistent link: https://www.econbiz.de/10005373306

Mortgage choices and housing speculation

Barlevy, Gadi; Fisher, Jonas D. M. - Federal Reserve Bank of Chicago - 2010

We describe a rational expectations model in which speculative bubbles in house prices can emerge. Within this model both speculators and their lenders use interest-only mortgages (IOs) rather than traditional mortgages when there is a bubble. Absent a bubble, there is no tendency for IOs to be...

Persistent link: https://www.econbiz.de/10008740002

House prices and subprime mortgage delinquencies

Doms, Mark; Furlong, Frederick; Krainer, John - In: FRBSF Economic Letter (2007)

In this Economic Letter, we explore how the pace of and change in house-price appreciation can affect the incentives and opportunities for borrowers in a market to avoid delinquencies and foreclosures. For instance, with likely gains in home equity in markets where house prices have risen...

Persistent link: https://www.econbiz.de/10005706985

Do homeowners know their house values and mortgage terms?

Bucks, Brian; Pence, Karen - Federal Reserve Board (Board of Governors of the … - 2006

To assess whether homeowners know their house values and mortgage terms, we compare the distributions of these variables in the household-reported 2001 Survey of Consumer Finances (SCF) to the distributions in lender-reported data. We also examine the share of SCF respondents who report not...

Persistent link: https://www.econbiz.de/10005721021

Subprime mortgage delinquency rates

Doms, Mark; Furlong, Fred; Krainer, John - Federal Reserve Bank of San Francisco - 2007

We evaluate the importance of three different channels for explaining the recent performance of subprime mortgages. First, the riskiness of the subprime borrowing pool may have increased. Second, pockets of regional economic weakness may have helped push a larger proportion of subprime borrowers...

Persistent link: https://www.econbiz.de/10005498377

The mortgage meltdown: implications for credit availability.

Rosengren, Eric S. - In: Speech (2008) Feb 29

Discussion by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, at the U.S. Monetary Policy Forum, New York, NY, February 29, 2008

Persistent link: https://www.econbiz.de/10008691033

Understanding the housing collapse: what is to blame and what can be done?

Rosengren, Eric S. - In: Speech (2010) May 5

Opening remarks by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, at the conference, “Understanding the Housing Collapse: What is to Blame and What Can Be Done?”, co-sponsored by the Harvard Kennedy School's Rappaport Institute for Greater Boston,...

Persistent link: https://www.econbiz.de/10008691062

Foreclosure's price-depressing spillover effects on local properties: a literature review

Lee, Kai-yan - Federal Reserve Bank of Boston - 2008

The costs of foreclosure often spill over from foreclosed properties to other nearby properties. This short paper … reviews some of the research on foreclosure's price-depressing impact on sales of nearby properties, only one of several forms … different assumptions, and cover different time periods. Their conclusions about foreclosure effects range from reducing nearby …

Persistent link: https://www.econbiz.de/10005724301

Housing Finance and Mortgage-Backed Securities in Mexico

Zanforlin, L.; Espinosa-Vega, Marco A - International Monetary Fund (IMF) - 2008

This paper reviews the Mexican experience with the securitization of residential mortgages. It highlights the key legislative and institutional reforms leading to the development of primary and secondary mortgage markets and reports the main features and valuation practices of the RMBS markets....

Persistent link: https://www.econbiz.de/10005248322

Mortgage Defaults

Martinez, Leonardo; Hatchondo, Juan Carlos; Sanchez, Juan M. - International Monetary Fund (IMF) - 2012

This paper incorporates house price risk and mortgages into a standard incomplete market (SIM) model. The model is calibrated to match U.S. data and accounts for non-targeted features of the data such as the distribution of down payments, the life-cycle profile of home ownership, and the...

Persistent link: https://www.econbiz.de/10009650640

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