Monetary Policy and Homeowner Mobility: The Effect of Mortgage interest Rates
AbstractThis 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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Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 4 (2001)
Issue (Month): 1 ()
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Find related papers by JEL classification:
- D1 - Microeconomics - - Household Behavior
- J6 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers
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.:
- Potepan, Michael J., 1989. "Interest rates, income, and home improvement decisions," Journal of Urban Economics, Elsevier, vol. 25(3), pages 282-294, May.
- Dynarski, Mark, 1985. "Housing demand and disequilibrium," Journal of Urban Economics, Elsevier, vol. 17(1), pages 42-57, January.
- 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.
- Kiel, Katherine A., 1994. "The Impact of House Price Appreciation on Household Mobility," Journal of Housing Economics, Elsevier, Elsevier, vol. 3(2), pages 92-108, June.
- 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.
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