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Volatile mortgage rates - a new fact of life?

Author

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  • Howard L. Roth

Abstract

Mortgage interest rates now move much more closely with capital market rates than in the past. This important development stems in part from the removal of mortgage usury ceilings. But the main reason for the closer relationship of mortgage rates to capital market rates is growth of the secondary mortgage market.

Suggested Citation

  • Howard L. Roth, 1988. "Volatile mortgage rates - a new fact of life?," Economic Review, Federal Reserve Bank of Kansas City, issue Mar, pages 16-28.
  • Handle: RePEc:fip:fedker:y:1988:i:mar:p:16-28:n:v.73no.3
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    File URL: http://www.kansascityfed.org/PUBLICAT/ECONREV/EconRevArchive/1988/1q88roth.pdf
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    Cited by:

    1. Frank Gyamfi-Yeboah & Alan Ziobrowski, 2010. "The Integration of Mortgage and Capital Markets in Emerging Economies—Evidence from South Africa," The Journal of Real Estate Finance and Economics, Springer, vol. 41(3), pages 339-353, October.
    2. Arbatskaya, Maria & Baye, Michael R., 2004. "Are prices 'sticky' online? Market structure effects and asymmetric responses to cost shocks in online mortgage markets," International Journal of Industrial Organization, Elsevier, vol. 22(10), pages 1443-1462, December.

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    Keywords

    Mortgages ; Secondary markets;

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