Mortgage refinancing activity associated with extraction of home equity contains a strongly counter-cyclical component …-cyclical idiosyncratic labor income uncertainty, both long-term and short-term mortgages, and realistic borrowing constraints. We then … empirically evaluate its predictions for the households' choices of leverage, liquid assets, and mortgage refinancing using micro …

There are large cross-sectional differences in how often US borrowers refinance mortgages. In this paper, we develop an … equilibrium mortgage pricing model with heterogeneous borrowers and use it to show that equilibrium forces imply important cross …-subsidies from borrowers who rarely refinance to those who refinance often. Mortgage reforms can potentially reduce these regressive …

towards mortgage indebtedness. We find that a given debt burden creates much higher distress in countries with fewer mortgage … holders relative to countries where a significant part of households uses mortgage debt. This effect is net of ppp …. - Mortgage debt ; credit markets ; financial distress ; household finance ; peer effects …

Using comparable survey data from twelve European countries we investigate households' attitudes towards mortgage … households have a mortgage outstanding relative to countries where a sizeable part of the population uses mortgage debt, like the … reference households, and crucially so in countries with less expanded mortgage markets. Thus it appears that households …

Using Danish household level data, we find that a relatively large share of total interest-only mortgage debt is held …

Mortgages constitute the largest part of household debt. An essential choice when taking out a mortgage is between … fixed-interest-rate mortgages (FRMs) and adjustable-interest-rate mortgages (ARMs). However, so far, no comprehensive cross …-country study has analyzed what determines household demand for mortgage types, a task that this paper takes up using new data for …

the main mortgage. Second, we examine the role of legal and economic institutions in accounting for these differences. We … youngest group of households borrow lower amounts (conditional on borrowing), and the mortgage interest rates paid by low …-income households are higher. Regulatory loan-to-value ratios, the taxation of mortgages and the prevalence of interest-only or fixed …