This paper reviews recent research on mortgage default, focusing on the relationship of this research to the recent … explicitly addressing reverse causality between rising foreclosures and falling house prices. Mortgage defaults were also a key … researchers to explore the central unsolved question in this area: why mortgage default is so rare, even for households with high …

, mortgage credit constraints and a price-to-price feedback loop affects house price volatility. Considering 247 Metropolitan …

At their peak in 2005, roughly 60 percent of all purchase mortgage loans originated in the United States contained at … house prices and non-traditional features of mortgage contracts. We apply a break-point methodology and find that in housing … findings support the view that a change in mortgage contract availability and a shift toward subprime borrowers helped to fuel …

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

lending constraints in the mortgage market. This view on the fundamental drivers of the boom is consistent with four empirical …, and the fall in mortgage rates. These facts are difficult to reconcile with the popular view that attributes the housing …

mortgage crisis, which, in contrast to the preceding housing boom, was not accompanied by a rise in homeownership rates. Using …

An expansion in mortgage credit to subprime borrowers is widely believed to have been a principal driver of the 2002 … purchase mortgages to subprime borrowers. We also document that the expansion in speculative mortgage products and underwriting …

government backing of the mortgage market. Nonetheless, the dominance of the crown corporation CMHC in the mortgage insurance … market concentrates a significant amount of risk in public finances. Improving competitive conditions in the mortgage …