mortgage rates and government bonds? Using a structural VAR approach, we find that mortgage spread shocks impact the real …

housing boom accelerated, fueled by rapid growth in mortgage lending. There is deep disagreement about how, or even if …-prone, which made the mortgage market fragile. Consistent with our theory, the re-emergence of privately-securitized mortgages has …

housing boom accelerated, fueled by rapid growth in mortgage lending. There is deep disagreement about how, or even if … tightening induced a large reduction in banks' deposit funding, which led them to contract new on-balance sheet mortgage lending … originators. Fed tightening thus induced a shift in the mortgage market away from stable, insured deposit funding toward run …