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Prime or not so prime? An exploration of US housing finance in the new century

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Author Info
Allen Frankel
Abstract

Significant US house price appreciation in the last few years has greatly helped to enlarge the size and scope of secondary markets for securities backed by non-prime mortgage loans. But while many households now have access to loans which otherwise might not have been available, were housing market conditions to worsen, investors would face new issues in the valuation of mortgage-backed securities and possibly unanticipated risks.

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Publisher Info
Article provided by Bank for International Settlements in its journal BIS Quarterly Review.

Volume (Year): (2006)
Issue (Month): (March)
Pages:
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Handle: RePEc:bis:bisqtr:0603f

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Related research
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Find related papers by JEL classification:
G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
L89 - Industrial Organization - - Industry Studies: Services - - - Other

Cited by:
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  1. Vladimir Klyuev & Paul S. Mills, 2006. "Is Housing Wealth an 'ATM'? The Relationship Between Household Wealth, Home Equity Withdrawal, and Saving Rates," IMF Working Papers 06/162, International Monetary Fund. [Downloadable!]
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This page was last updated on 2008-4-29.

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