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The Cost of Home Mortgage Credit during the 1980s

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  • Do, A Quang
  • Shilling, James D

Abstract

This paper examines the extent to which failing or failed S&Ls systematically mispriced the cost of home mortgage credit during the 1980s. Several researchers have argued that the moral hazard problem associated with deposit insurance caused bankrupt S&Ls during the 1980s to take on high risk, high return projects and engage in aggressive underwriting practices. The authors' empirical results suggest that residential home mortgage borrowers paid a significantly lower rate at failing or failed S&Ls during the 1980s than they paid at solvent S&Ls. Copyright 1995 by Ohio State University Press.

Suggested Citation

  • Do, A Quang & Shilling, James D, 1995. "The Cost of Home Mortgage Credit during the 1980s," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(3), pages 864-875, August.
    • Handle: RePEc:mcb:jmoncb:v:27:y:1995:i:3:p:864-75
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