The premium embedded in home mortgage loans to compensate investors for their exposure to prepayment risk is a significant component of the cost of home mortgage lending. Moreover, there is some reason to believe that prepayment risk may be lower for loans to lower-income housing borrowers,...

The study departs from most previous work by examining mortgage termination behavior at the household level and by examining the totality of terminations, due to both call behavior and mobility behavior. It exploits information in the American Housing Surveys (AHS) to examine national...

This paper examines the variation in the rates of house price appreciation within an individual metropolitan market. A methodology is developed to examine the locational variation in house price changes in Dade County (Miami) Florida, from 1971 to 1992. House price appreciation appears to be...