Consumer-Revealed Preferences for a Margin and Other Associated Adjustable-Rate Mortgage Features
AbstractThis paper presents a model of mortgagor-revealed preferences for a margin and other associated adjustable-rate mortgage features estimated empirically from a cross-sectional sample of approved mortgage applications in the United States from 1984-87. It builds on the conclusions of others that mortgage menus create clientele effects because different contracts are designed to induce borrowers to reveal information about their preference structure. The pooled OLS model included numerous mortgage characteristics and produced statistical results that generally supported conventional wisdom concerning borrower behavior.
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Bibliographic InfoArticle provided by American Real Estate Society in its journal Journal of Real Estate Research.
Volume (Year): 4 (1989)
Issue (Month): 1 ()
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Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
Web page: http://www.aresnet.org/
Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
Find related papers by JEL classification:
- L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services
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- James W. Boyd, 1988. "Asset Status Proxies and Consumer Preference for ARMs: An Empirical Investigation Using Probit Analysis," Journal of Real Estate Research, American Real Estate Society, vol. 3(1), pages 37-45.
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