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Mortgage Innovation, Mortgage Choice, and Housing Decisions (ICPSR 25063)
This paper examines some of the more recent mortgage products now available to borrowers. The authors describe how these products differ across important characteristics, such as the down payment requirement, repayment structure, and amortization schedule. The paper also presents a model with the potential to analyze the implications for various mortgage contracts for individual households, as well as to address many current housing market issues. The authors use the model to examine the implications of alternative mortgages for homeownership and to show that interest rate-adjustable mortgages and combo loans can help explain the rise-and fall-in homeownership since 1994.
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Chambers, Matthew S., Carlos Garriga, and Don Schlagenhauf. Mortgage Innovation, Mortgage Choice, and Housing Decisions. ICPSR25063-v1. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2009-03-12. http://doi.org/10.3886/ICPSR25063.v1
Persistent URL: http://doi.org/10.3886/ICPSR25063.v1
This study was funded by:
- Federal Reserve Bank of St. Louis
- National Science Foundation (SEP-0649374)
- Spanish Ministry of Science and Technology (SEJ2006-02879)
Scope of Study
Geographic Coverage: United States
The zipped package contains programming syntax used to generate the tables found in the article.
These data are part of ICPSR's Publication-Related Archive and are distributed exactly as they arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigators if further information is desired.
Original ICPSR Release: 2009-03-12
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