This paper measures the impact of nonassumable, fixed-rate, long-term mortgage financing on household mobility and … housing demand during a period of accelerating inflation (l965_71l). We calculate that typical households who bought houses …, fixed-rate mortgage is largely responsible for bath sluggish housing demand in the l967-79 period and its surge in the 1976 …

mortgage design interact with monetary policy? We answer these questions using a quantitative equilibrium life cycle model with … policy. Designs that raise mortgage payments in booms and lower them in recessions do better than designs with fixed mortgage … reductions over the life of the mortgage. Front-loading alleviates household liquidity constraints in states where they are most …

mortgage design interact with monetary policy? We answer these questions using a quantitative equilibrium life cycle model with … policy. Designs that raise mortgage payments in booms and lower them in recessions do better than designs with fixed mortgage … concentrate them in recessions outperform designs that spread payment reductions over the life of the mortgage. Front …