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The Market for Home Mortgage Credit: Recent Changes and Future Prospects

Listed author(s):
  • Patric H. Hendershott

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.

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Date of creation: Dec 1990
Publication status: published as Gilbert, ed., Recent Changes in the Market for Financial Services, Economic Policy Conference, FRB of St. Louis, 1992, pp.99-123
Handle: RePEc:nbr:nberwo:3548
Note: ME
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  1. Michael O'Keefe & Robert Order, 1990. "Mortgage Pricing: Some Provisional Empirical Results," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 18(3), pages 313-322.
  2. Joe Peek, 1990. "A call to ARMs: adjustable rate mortgages in the 1980s," New England Economic Review, Federal Reserve Bank of Boston, issue Mar, pages 47-61.
  3. Hendershott, Patric H. & Van Order, Robert, 1989. "Integration of mortgage and capital markets and the accumulation of residential capital," Regional Science and Urban Economics, Elsevier, vol. 19(2), pages 189-210, May.
  4. David F. Seiders, 1983. "Mortgage Pass-Through Securities: Progress and Prospects," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 11(2), pages 264-287.
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