, the effects are stronger in countries with more developed mortgage markets and generally later in the cycle when the yield …

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

The 30-year fixed-rate fully amortizing mortgage (or "traditional fixed-rate mortgage") was a substantial innovation … accumulation, many lenders require large down payments. Second, in each monthly mortgage payment, homeowners substantially …, refinancing mortgages is often very costly. We propose a new fixed-rate mortgage, called the Fixed-Payment-COFI mortgage (or …

banks in mortgage lending is caused by defensive strategy or if the market is not facing any big troubles and the change in …

agent-based models of mortgage prepayments give us hope that such a model could be useful. Preliminary analysis suggests …