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Monetary Policy and Homeowner Mobility: The Effect of Mortgage interest Rates

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Author Info
John M. Quigley () (University of California, Berkeley)

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Abstract

This paper tests the "lock-in" effect of mortgage contract terms and establishes the link between changes in market interest rates and homeowner mobility. The analysis is based on the Panel Study of Income Dynamics during 1990-1993, when mortgage interest rates declined by almost 30 percent

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File URL: http://www.economicsbulletin.com/2001/volume4/EB-01D10001A.pdf
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Publisher Info
Article provided by Economics Bulletin in its journal Economics Bulletin.

Volume (Year): 4 (2001)
Issue (Month): ()
Pages: 1-10
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:ebl:ecbull:eb-01d10001

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Related research
Keywords: household mobility; Lock in; mortgage contract terms;

Find related papers by JEL classification:
D1 - Microeconomics - - Household Behavior
J6 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies

This paper has been announced in the following NEP Reports:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Potepan, Michael J., 1989. "Interest rates, income, and home improvement decisions," Journal of Urban Economics, Elsevier, vol. 25(3), pages 282-294, May. [Downloadable!] (restricted)
  2. Weinberg, Daniel H. & Friedman, Joseph & Mayo, Stephen K., 1981. "Intraurban residential mobility: The role of transactions costs, market imperfections, and household disequilibrium," Journal of Urban Economics, Elsevier, vol. 9(3), pages 332-348, May. [Downloadable!] (restricted)
  3. Dynarski, Mark, 1985. "Housing demand and disequilibrium," Journal of Urban Economics, Elsevier, vol. 17(1), pages 42-57, January. [Downloadable!] (restricted)
  4. Quigley, John M, 1987. "Interest Rate Variations, Mortgage Prepayments and Household Mobility," The Review of Economics and Statistics, MIT Press, vol. 69(4), pages 636-43, November. [Downloadable!] (restricted)
  5. Kiel, Katherine A., 1994. "The Impact of House Price Appreciation on Household Mobility," Journal of Housing Economics, Elsevier, vol. 3(2), pages 92-108, June. [Downloadable!] (restricted)
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Statistics
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This page was last updated on 2009-12-12.

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