A standard, no-recourse mortgage contract does not adjust when the value of the underlying collateral falls … equilibrium minimum mortgage rate by 90 basis points. The volatility of net cashows to financial intermediaries also increases …

In this paper we disentangle the impact of household financial constraints on the mortgage rate from a number of … bargain for lower mortgage rates. However, contrary to other studies, the risk profile does not have a significant effect on …

In this paper we disentangle the impact of household financial constraints on mortgage rate from a number of dimensions … are able to bargain for lower mortgage rates. However, contrary to other studies, the risk profile does not have a … significant effect on mortgage rates. Credit institutions tend to charge higher rates during the crisis to all customers …

We find evidence that households selecting Adjustable Rate Mortgages (ARMs) during the recent decade were …

homeowners' balance sheets: mortgage debt and housing wealth. Overall, the interest-rate sensitivity is limited. Cash …-rate mortgages, and the fall in outstanding bank loans. The median and upper tails of the distribution of balance-sheet sensitivity …

interest rates of short-term fixed-rate mortgages (the dominant product in Canada's mortgage market) have to be reset according …We study the causal effect of mortgage rate changes on consumer spending, debt repayment, and defaults during an … variation in the timing of mortgage rate resets. We find asymmetric responses of consumer durable spending, deleveraging, and …

Swedish policy reform that eliminated interest-only mortgages for loan-to-value ratios above 50%. We document substantial … of the effect comes from households experiencing ongoing flow disutility to amortization payments. Our results indicate … that mortgage contracts with low initial payments substantially increase household borrowing and lifetime interest costs. …

We study the exposure of mortgage borrowers in Switzerland to interest rate, income and house price risks and examine … how the households' choice of risky mortgages is related to individual interest rate expectations and risk-aversion. Our … analysis is based on a unique data set of household mortgage applications from September 2012 until January 2014. Our …