Prime or not so prime? An exploration of US housing finance in the new century
AbstractSignificant 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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Bibliographic InfoArticle provided by Bank for International Settlements in its journal BIS Quarterly Review.
Volume (Year): (2006)
Issue (Month): (March)
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
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