We exploit a unique data set that features both un-intermediated mortgage requests and independent offers from multiple … current mortgage payments over the risk of possible hikes in future mortgage payments. We also provide evidence that banks do … influence the contracted mortgage rate fixation periods, trading off their own exposure to interest rate risk against the …

Long-term fixed-rate mortgage contracts protect households against interest rate risk, yet most countries have … fixation length tracks the life-cycle decline of credit risk in the mortgage market: the loan-to-value (LTV) ratio decreases … using shorter-term contracts. To quantify demand for long-term contracts, I develop a life-cycle model of optimal mortgage …

improving the home mortgage contract to make homeownership more achievable for creditworthy borrowers. Though the proposals in …, deviations from par make mortgage prepayment options valuable, so that lenders offering the product must manage option risk as … mortgage designs, understanding their financial characteristics may contribute to the search for a better mortgage …

We study the exposure of mortgage borrowers in Switzerland to interest rate, income and house price risks and examine … analysis is based on a unique data set of household mortgage applications from September 2012 until January 2014. Our … assessment of risk exposure among mortgage borrowers in Switzerland is highly sensitive to the underlying assumptions on mortgage …

We study the aggregate exposure of mortgage borrowers in Switzerland to interest rate and house price risks and examine … variation. The analysis is based on a unique data set of household mortgage applications. Our results suggest that the aggregate …

We disentangle the demand and supply determinants of mortgage rate fixation periods. Our unique dataset features offers … from multiple banks for each individual mortgage request. We how that households respond to the relative cost of different …