Report
Effects of household creditworthiness on mortgage refinancings
Peristiani, Stavros; Monsen, Gordon; Bennett, Paul; Raiff, Jonathan; Peach, Richard (1996)
Using a unique loan level data set that links individual household credit ratings with property and loan characteristics, we test the extent to which homeowners' equity and credit ratings affect the likelihood that mortgage loans will be refinanced as interest rates fall. The logit model estimates strongly support the importance of both the equity and credit ratings affect the likelihood that mortgage loans will be refinanced as interest rates fall. The logit model estimates strongly support the importance of both the equity and credit variable. These results are interesting both from the ...
Research Paper , Paper 9622

Journal Article
Credit, equity, and mortgage refinancings
Peristiani, Stavros; Monsen, Gordon; Bennett, Paul; Raiff, Jonathan; Peach, Richard (1997-07)
Using a unique loan level data set that links individual household credit ratings with property and loan characteristics, the authors test the extent to which homeowners' credit ratings and equity affect the likelihood that mortgage loans will be refinanced as interest rates fall. Their logit model estimates strongly support the importance of both the credit and equity variables. Furthermore, the authors' results suggest that a change in the overall lending environment over the past decade has increased the probability that a homeowner will refinance.
Economic Policy Review , Volume 3 , Issue Jul , Pages 83-99