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How do mortgage rate resets affect consumer spending and debt repayment? : evidence from Canadian consumers
Kartashova, Katya; Zhou, Xiaoqing - 2020 - Last updated: May 19, 2020
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 …
Persistent link: https://www.econbiz.de/10012243318
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Fed liftoff and subprime loan interest rates : evidence from the peer-to-peer lending market
Bertsch, Christoph; Hull, Isaiah; Zhang, Xin - 2016
On December 16th of 2015, the Fed initiated "liftoff," raising the federal funds rate range by 25 basis points and ending a 7-year regime of near-zero rates. We use a unique dataset of 640,000 loan-hour observations to measure the impact of liftoff on interest rates in the peer-to-peer lending...
Persistent link: https://www.econbiz.de/10011457389
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The Distribution of Debt Across Euro Area Countries : The Role of Individual Characteristics, Institutions and Credit Conditions
Bover, Olympia - 2013
the main mortgage. Second, we examine the role of legal and economic institutions in accounting for these differences. We … youngest group of households borrow lower amounts (conditional on borrowing), and the mortgage interest rates paid by low …
Persistent link: https://www.econbiz.de/10013071535
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The Distribution of Debt Across Euro Area Countries : The Role of Individual Characteristics, Institutions and Credit Conditions
Bover, Olympia - 2013
the main mortgage. Second, we examine the role of legal and economic institutions in accounting for these differences. We … youngest group of households borrow lower amounts (conditional on borrowing), and the mortgage interest rates paid by low …
Persistent link: https://www.econbiz.de/10013072321
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The Distribution of Debt Across Euro Area Countries : The Role of Individual Characteristics, Institutions and Credit Conditions
Bover, Olympia - 2014
the main mortgage. Second, we examine the role of legal and economic institutions in accounting for these differences. We … of households borrow lower amounts (conditional on borrowing), and the mortgage interest rates paid by low …
Persistent link: https://www.econbiz.de/10013059581
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The Distribution of Debt Across Euro Area Countries : The Role of Individual Characteristics, Institutions and Credit Conditions
Bover, Olympia - 2016
the main mortgage. Second, we examine the role of legal and economic institutions in accounting for these differences. We … youngest group of households borrow lower amounts (conditional on borrowing), and the mortgage interest rates paid by low …
Persistent link: https://www.econbiz.de/10012988756
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Monetary policy normalisation and mortgage arrears in a recovering economy : the case of the Irish residential market
Slaymaker, Rachel; O'Toole, Conor; McQuinn, Kieran; … - 2019
In this paper we examine the sensitivity of mortgage arrears for Irish households to changes in mortgage interest rates … information on current income and current mortgage repayments to link arrears to the level of, as well as shocks in, households … and those on tracker mortgage rate loans are most at risk following rate rises. This has important consequences for the …
Persistent link: https://www.econbiz.de/10011986617
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Mortgage Debt, Hand-to-Mouth Households, and Monetary Policy Transmission
Agarwal, Sumit - 2020
-in-differences analysis shows that compared with homeowners without mortgage obligations, mortgagors increased their monthly credit card … spending by 7.2% after the 230bps mortgage rate reduction announced in September 2008. We find a significant spending response … after the mortgage rate reset. Subsequent to an interest-rate-increase episode, mortgagors symmetrically reduced their …
Persistent link: https://www.econbiz.de/10012850684
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Housing collateral and the monetary transmission mechanism
Walentin, Karl; Sellin, Peter - 2010
In this paper our main aim is to quantify the role that housing collateral plays for the monetary transmission mechanism. Furthermore, we want to explore the implications of the increase in household indebtedness, and specifically the loan-to-value ratio, in the last two decades. We set up a two...
Persistent link: https://www.econbiz.de/10003960505
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Consolidation and legacy of foreign currency household lending in central and eastern Europe : the case of Hungary
Kolozsi, Pál Péter; Lentner, Csaba - In: Contemporary economics 14 (2020) 3, pp. 366-378
During the first decade of the 21st century, household FX loans spread in numerous countries in Central and Eastern Europe, where they caused serious macroeconomic and social problems with the spillover of the global financial crisis. Disregarding countries that joined the euro area, Hungary was...
Persistent link: https://www.econbiz.de/10012301687