Three major changes occurred during the 1980s in the market for home mortgage credit; the securitization of fixed-rate mortgages, the development of a national primary market for adjustable-rate mortgages, and the decimation of the saving and loan industry. These changes and their impacts on various financial industries and homebuyers are the subjects of this paper. I also briefly speculate about likely future changes in this market.
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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number
3548.
Length: Date of creation: Dec 1990 Date of revision: Handle: RePEc:nbr:nberwo:3548
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