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The Interest Rate Elasticity of Mortgage Demand : Evidence from Bunching at the Conforming Loan Limit

DeFusco, Anthony - 2015

The relationship between the mortgage interest rate and a household's demand for mortgage debt has important … novel estimates of the interest rate elasticity of mortgage demand. Our empirical strategy exploits a discrete jump in … Freddie Mac. This discontinuity creates a large "notch" in the intertemporal budget constraint of prospective mortgage …

Persistent link: https://www.econbiz.de/10013034237

What Calls to Arms? International Evidence on Interest Rates and the Choice of Adjustable-Rate Mortgages

Badarinza, Cristian - 2014

in total mortgage issuance. Using a nine-country panel and instrumental variables methods, we present evidence that near …-term (one-year) rational expectations of future movements in ARM rates do affect mortgage choice, particularly in more recent …

Persistent link: https://www.econbiz.de/10013048590

Mortgage asymmetric pricing, cash rate and international funding cost : Australian evidence

Quynh Chau Pham Holland; Liu, Benjamin; Roca, Eduardo; … - In: International review of economics & finance : IREF 65 (2020), pp. 46-68

Persistent link: https://www.econbiz.de/10012384788

Housing booms, reallocation and productivity

Dörr, Sebastian - 2020

Persistent link: https://www.econbiz.de/10012387016

The effect of interest rates on home buying : evidence from a shock to mortgage insurance premiums

Bhutta, Neil; Ringo, Daniel - In: Journal of monetary economics 118 (2021), pp. 195-211

Persistent link: https://www.econbiz.de/10012603769

One money, many markets : monetary transmission and housing financing in the euro area

Corsetti, Giancarlo; Duarte, Joao B.; Mann, Samuel - 2020

We study the transmission of monetary shocks across euro-area countries using a dynamic factor model and high-frequency identification. We develop a methodology to assess the degree of heterogeneity, which we find to be low in financial variables and output, but significant in consumption,...

Persistent link: https://www.econbiz.de/10012252067

The role of refinancing in the interest rate pass-through to fixed-rate mortgage contracts

Hensch, Jonas Ladegaard - 2021

In this paper, I study how mortgage refinancing influences the interest rate pass-through to household budgets via … fixed-rate mortgage contracts in Denmark. I develop a model based on a state-dependent process of household actions that … response via a cointegrated VAR model in the period 2008-2020, and complement the results with detailed mortgage data at …

Persistent link: https://www.econbiz.de/10012510137

Betting the House

Jordà, Òscar - 2014

Is there a link between loose monetary conditions, credit growth, house price booms, and financial instability? This paper analyzes the role of interest rates and credit in driving house price booms and busts with data spanning 140 years of modern economic history in the advanced economies. We...

Persistent link: https://www.econbiz.de/10012457895

What Calls to ARMs? International Evidence on Interest Rates and the Choice of Adjustable-Rate Mortgages

Badarinza, Cristian - 2014

Persistent link: https://www.econbiz.de/10012458258

The mortgage cash flow channel of monetary policy transmission : a tale of two countries

Cooper, Daniel; Garga, Vaishali; Luengo-Prado, Maria José - 2021 - This version: August 2021

We study the mortgage cash flow channel of monetary policy transmission under fixed-rate mortgage (FRM) versus … adjustable-rate mortgage (ARM) regimes by comparing the United States with primarily long-term FRMs and Spain with primarily ARMs … that automatically reset annually. We find a robust transmission of mortgage rate changes to spending in both countries but …

Persistent link: https://www.econbiz.de/10012626226