House prices generally depend on inflation, the yield curve and bank credit, but national differences in the mortgage markets also matter. House prices are more sensitive to short-term rates where floating rate mortgages are more widely used and more aggressive lending practices are associated with stronger feedback from prices to bank credit.
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Article provided by Bank for International Settlements in its journal BIS Quarterly Review.
Volume (Year): (2004) Issue (Month): (March) Pages: Download reference. The following formats are available: HTML,
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Find related papers by JEL classification: G12 - Financial Economics - - General Financial Markets - - - Asset Pricing G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Mortgages C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models
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