Long-term fixed-rate mortgage contracts protect households against interest rate risk, yet most countries have … fixation length tracks the life-cycle decline of credit risk in the mortgage market: the loan-to-value (LTV) ratio decreases … using shorter-term contracts. To quantify demand for long-term contracts, I develop a life-cycle model of optimal mortgage …

We show that a contraction of mortgage supply after the Great Recession has increased housing rents. Our empirical …

The dramatic expansion in subprime mortgage credit fueled a remarkable boom and bust in the US housing market and … created a global financial crisis. Even though considerable research examines the housing and mortgage markets during the … previous decade, how the expansion in mortgage credit affected the rental market remains unclear; and yet, over 30 percent of …

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

that a mortgage modification program aimed at limiting foreclosures that fails to take into account private debt …

mortgage lock-in over the lifecycle. We find that younger home buyers are disproportionately affected by mortgage lock … that on average mortgage lock-in reduces household listing probabilities by 21 percent to 23 percent, increases time on the …

Home appraisals are produced for millions of residential mortgage transactions each year, but appraised values are … institutional framework that governs mortgage lending lead to information loss in appraisals (that is, appraisals set equal to the … incidence of mortgage default at loan-to-value boundaries (notches) above which mortgage insurance rates increase. Appraisals …

mortgage equity withdrawal (MEW) loan products were denied. Black and Hispanic homeowners' applications were denied at even … with purchase and rate/term refinance mortgage applications. Controlling for loan and borrower characteristics commonly …