The last decade has brought about substantial mortgage innovation and increased refinancing. The objective of this … paper is to understand the determinants and implications of mortgage choice in the context of a general equilibrium model … with incomplete markets. The equilibrium characterization allows us to study the impact of mortgage financing decisions in …

socioeconomic conditions, and mortgage markets. The paper also estimates a simultaneous econometric model for the country`s housing … highly elastic to households` disposable income, new housing prices and real interest rates on mortgage credit. On the supply …

commuting, and about how much to spend on a mortgage. By matching the results to data (at the ZIP-code level) about relative … commuting, and they find that people who live in the high-decline areas believe it is appropriate to spend more on a mortgage. …

Bereich der Immobilienfinanzierung gesamtwirtschaftliche Vorteile verspricht, weil die Entscheidungen der Haushalte zu einer … property prices can have a decisive effect on consumption. The mortgage markets represent an important link between monetary … example, where the standard mortgage has a variable interest rate. Moreover, the example of the USA, where household decisions …