The Market for Home Mortgage Credit: Recent Changes and Future Prospects
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.
|Date of creation:||Dec 1990|
|Date of revision:|
|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|
|Contact details of provider:|| Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.|
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- 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.
- 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.
- 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.
- Patric H. Hendershott & Robert Van Order, 1989. "Integration of Mortgage and Capital Markets and the Accumulation of Residential Capital," NBER Working Papers 2847, National Bureau of Economic Research, Inc.
- 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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