The relationship between the mortgage interest rate and a household's demand for mortgage debt has important … novel estimates of the interest rate elasticity of mortgage demand. Our empirical strategy exploits a discrete jump in … Freddie Mac. This discontinuity creates a large "notch" in the intertemporal budget constraint of prospective mortgage …

Much attention has been paid to the large decreases in value of non-agency residential mortgage-backed securities (RMBS …

The recent financial crisis has posed new challenges to the pricing issue of mortgage insurance premiums. By extending … mortgage defaults, the diversification effect of underlying property pools and mortgage insurers' information advantages. Our … that although the rising number of pooled mortgage loans can reduce the volatility of average default losses, the …

This paper examines the impact of refinance on mortgage default, based on an empirical investigation of Home Affordable …

I develop a structural model of mortgage demand and lender competition to study how leverage regulation affects the … equilibrium in the UK mortgage market. Using variation in risk-weighted capital requirements across lenders and across mortgages … increases the interest rate by 10 percent for the average mortgage product. The estimated model implies that heterogeneous …

This paper examines the impact of refinancing on mortgage defaults based on an empirical investigation of the Home …

This paper examines the impact of refinancing on mortgage defaults based on an empirical investigation of the Home …

a bank-level cap on mortgage credit growth to investors while the second policy placed a bank-level cap on the share of … interest-only mortgage lending. We show that the first policy caused a sharp and large drop in credit growth to investors …

We develop new measures to detect income falsification on mortgage applications during the housing bubble. We find that …

We study the effect of changes to bank-specific capital requirements on mortgage loan supply with a new loan …