Journal Article

Residential mortgage default

Abstract: In ?Residential Mortgage Default,? Ronel Elul discusses the models that economists have developed to help us understand the default risk inherent in home mortgages and how default risk and house prices are related. He also applies these models to show how falling house prices would affect mortgage default rates today and explores the impact that rising default rates would have on financial institutions and other participants in the mortgage market. ; Also issued as Payment Cards Center Discussion Paper No. 06-10

Keywords: Mortgages;

Bibliographic Information

Provider: Federal Reserve Bank of Philadelphia

Part of Series: Business Review

Publication Date: 2006

Issue: Q3

Pages: 21-30