, mortgage credit constraints and a price-to-price feedback loop affects house price volatility. Considering 247 Metropolitan …

In this paper we examine the role of mortgage equity withdrawal in explaining the decline of the US saving rate, since … when house prices rise and mortgage rates are low, homeowners have an incentive to withdraw housing equity and this may … withdrawal and interest rates and find that indeed mortgage equity withdrawal is a key determinant of the observed saving pattern …

What are the macroeconomic consequences of changing aggregate lending standards in residential mortgage markets, as … instrument, and, as a result, mortgage rates increase and residential investment declines. The monetary policy reaction function …. Without the endogenous monetary policy reaction residential investment increases. House prices and household (mortgage) debt …

We explore the impact of mortgage securitization on the international diversification of macroeconomic risk. By making … mortgage-related risks internationally tradeable, securitization contributes considerably to better international consumption … risk sharing: we find that countries with the most highly developed markets for securitized mortgage debt have consumption …

course of the 20th century, driven by a sharp rise of mortgage lending to households. Household debt to asset ratios have …

We assess the credit market impact of allowing mortgage "strip-down" as a foreclosure-prevention measure, where strip …-term reduction in mortgage interest rates and a small, short-term increase in mortgage approval rates, but no long-term effects, and … the circuit court decisions did not consistently affect mortgage terms. These results suggest that strip-down would be an …