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Keywords:mortgages OR Mortgages 

Discussion Paper
Have Consumers Been Deleveraging?

Since its peak in summer 2008, U.S. consumers? indebtedness has fallen by more than a trillion dollars. Over roughly the same period, charge-offs?the removal of obligations from consumers? credit reports because of defaults?have risen sharply, especially on loans secured by houses, which make up about 80 percent of consumer liabilities. An important question for gauging the behavior of U.S. consumers is how to interpret these two trends. Is the reduction in debts entirely attributable to defaults, or are consumers actively reducing their debts? In this post, we demonstrate that a significant ...
Liberty Street Economics , Paper 20110321

Journal Article
Homebuyers bear arms in the mortgage market

The Regional Economist , Issue Jan , Pages 12-13

Working Paper
How the Federal Reserve's Large-Scale Asset Purchases (LSAPs) Influence Mortgage-Backed Securities (MBS) Yields and U.S. Mortgage Rates

We conduct an empirical analysis of the Federal Reserve's large-scale asset purchases (LSAPs) on MBS yields and mortgage rates. The Federal Reserve's accumulation of MBS and Treasury securities lowered MBS yields and mortgage rates by more than what would have been suggested by changes in market expectations alone, suggesting that portfolio rebalancing effects of LSAPs are an important consideration for monetary policy transmission. Our estimates also suggest that the Federal Reserve must hold a substantial market share of agency MBS or of Treasury securities to significantly lower MBS yields ...
Finance and Economics Discussion Series , Paper 2014-12

Journal Article
Construction and mortgage markets

Federal Reserve Bulletin , Issue Dec , Pages 1549-1556

Journal Article
A primer on the mortgage market and mortgage finance

This article is a primer on mortgage finance. It discusses the basics of the mortgage market and mortgage finance. In so doing, it provides useful information that can aid individuals in making better mortgage finance decisions. The discussion and the tools are presented within the context of mortgage finance; however, these same principles and tools can be applied to a wide range of financial decisions.
Review , Volume 90 , Issue Jan , Pages 31-46

Journal Article
Thrift deregulation and the mortgage market

FRBSF Economic Letter

Conference Paper
Housing, credit and consumer expenditure: commentary

Proceedings - Economic Policy Symposium - Jackson Hole

Journal Article
Statement to Congress, May 27, 1992 (the Mortgage Refinancing Reform Act of 1992)

Federal Reserve Bulletin , Issue Jul , Pages 524-529

Discussion Paper
Home mortgage lending by applicant race/ethnicity: do HMDA figures provide a distorted picture?

Consumer and Community Affairs Policy Studies , Paper 2000-3

Journal Article
The varying effects of predatory lending laws on high-cost mortgage applications

Federal, state, and local predatory lending laws are designed to restrict and in some cases prohibit certain types of high-cost mortgage credit in the subprime market. Empirical evidence using the spatial variation in these laws shows that the aggregate flow of high-cost mortgage credit can increase, decrease, or be unchanged after these laws are enacted. Although it may seem counterintuitive to find that a law that prohibits lending could be associated with more lending, it is hypothesized that a law may reduce the cost of sorting honest loans from dishonest loans and lessen borrowers' fears ...
Review , Volume 89 , Issue Jan , Pages 39-60

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