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Pricing Private Mortgage Insurance

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  • Craig Swan

Abstract

Issues involved in an evaluation of the price of private mortgage insurance are discussed. Cost considerations are emphasized as long-run equilibrium competitive market prices equal long-run marginal and average cost. An empirical evaluation of current insurance premiums vis-a-vis competitive market norms requires more empirical information on the determinants of foreclosures, especially the links between micro and macro determinants. Option pricing models suggest other data comparisons that also may shed light on an evaluation of insurance premiums. Copyright American Real Estate and Urban Economics Association.

Suggested Citation

  • Craig Swan, 1982. "Pricing Private Mortgage Insurance," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 10(3), pages 276-296.
  • Handle: RePEc:bla:reesec:v:10:y:1982:i:3:p:276-296
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    Cited by:

    1. Patric H. Hendershott & Robert Van Order, 1987. "Pricing Mortgages: An Interpretation of the Models and Results," NBER Working Papers 2290, National Bureau of Economic Research, Inc.
    2. Ashok Bardhan & Raša Karapandža & Branko Urošević, 2006. "Valuing Mortgage Insurance Contracts in Emerging Market Economies," The Journal of Real Estate Finance and Economics, Springer, vol. 32(1), pages 9-20, February.
    3. Terrence M. Clauretie, 1987. "The Impact of Interstate Foreclosure Cost Differences and the Value of Mortgages on Default Rates," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 15(3), pages 152-167.
    4. Barry Dennis & Chionglong Kuo & Tyler Yang, 1997. "Rationales of Mortgage Insurance Premium Structures," Journal of Real Estate Research, American Real Estate Society, vol. 14(3), pages 359-378.
    5. Donald F. Cunningham & Patric H. Hendershott, 1984. "Pricing FHA Mortgage Default Insurance," NBER Working Papers 1382, National Bureau of Economic Research, Inc.

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