points increase in annual growth rate of mortgage lending by CRA-regulated banks to CRA-eligible census tracts relative to a … the CRA, however, do not show any change in their mortgage supply between these two types of census tracts after 1998. I … take advantage of this exogenous shift in mortgage supply within an instrumental variable framework to identify the causal …

This chapter considers the structure of mortgage finance in the U.S., and its role in shaping patterns of homeownership … the design features of mortgage contracts that distinguish them from other loans, and that have important implications for … issues presented in the rest of the chapter. We then explain how mortgage finance interacts with public policy, particularly …

We study the link between homeownership and entrepreneurship using a model of occupational choice and housing tenure … where homeowners commit a fixed budget to mortgage payments. Our model predicts that: (i) mortgage commitments, by … amplifying risk aversion, diminish the likelihood that homeowners start a business; (ii) the negative link between homeownership …

We study the link between homeownership, mortgage debt, and entrepreneurship using a model of occupational choice and … housing tenure where homeowners commit to mortgage payments. Our model predicts that, as long as mortgage rates exceed the … rate of interest on liquid wealth: (i) mortgage debt, by amplifying risk aversion, diminishes the likelihood that …

increase with the mortgage interest rate. These theoretical results are supported by empirical analysis, which also shows that …

recovered. While homeownership is a riskier investment than previously realized, still it remains a proven path to increased …In the wake of the financial crisis, mortgage lending to lower-income and minority borrowers overcorrected and has not … demands of homeownership and strengthening their credit histories, while rapid foreclosure prevention counseling can reduce …

. Reforming the housing market would reduce the risks associated with high house prices, ensure adequate residential investment …

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 …

The most frequent mortgage loans in the US behave according to nominal interest rates with level loan payments (NRMs … increase of real payments in the early years of the mortgage due to higher inflation (Lessard and Modigliani, 1975), causes …