) explicit modelling of repayment and interest-only CWMs; (b) closed form formulae for mortgage payment and mortgage balance of a … repayment CWM; (c) a closed form formula for the actuarially fair mortgage rate of an interest-only CWM. For repayment CWMs we …

conditions required by the banking system to grant a mortgage. The authors find that easier access to credit inflates housing …

This paper investigates the housing and mortgage markets by means of an agent-based macroeconomic model of a credit … households’ creditworthiness conditions required by banks in order to grant a mortgage. Results show that easier access to credit …