commuting, and about how much to spend on a mortgage. By matching the results to data (at the ZIP-code level) about relative … commuting, and they find that people who live in the high-decline areas believe it is appropriate to spend more on a mortgage. …

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 …. To resolve these three flaws, we propose a new fixed-rate mortgage, called the Fixed-Payment-COFI mortgage (or "Fixed …