Teaser rates in conventional adjustable-rate mortgage (ARM) markets
作者： JoelF. Houston , J. Sa-Aadu , JamesD. Shilling
DOI: 10.1007/BF00171358
关键词:
摘要: This article examines the pricing of teaser rates on adjustable-rate mortgages (ARMs). The theory indicates that lenders may offset ARMs through an increase in upfront fees or points, looser life loan rate caps, higher contract after has expired. Cross-sectional regression results fail to reject null hypothesis are correctly priced.
springer.com
sci-hub.se 参考文章(12)
Andrew Weiss, Joseph E. Stiglitz, Credit Rationing in Markets with Imperfect Information. The American Economic Review. ,vol. 71, pp. 393- 410 ,(1981) , 10.7916/D8V12FT1
Patric H. Hendershott, Mortgage Pricing: What Have We Learned So Far?+ Real Estate Economics. ,vol. 14, pp. 497- 509 ,(1986) , 10.1111/1540-6229.00399
Chester Foster, Robert Van Order, FHA Terminations: A Prelude to Rational Mortgage Pricing Real Estate Economics. ,vol. 13, pp. 273- 291 ,(1985) , 10.1111/1540-6229.00355
Alan C. Hess, Variable Rate Mortgages: Confusion of Means and Ends Financial Analysts Journal. ,vol. 40, pp. 67- 70 ,(1984) , 10.2469/FAJ.V40.N1.67
Patric H. Hendershott, James D. Shilling, Valuing ARM Rate Caps: Implications of 1970-84 Interest Rate Behavior Real Estate Economics. ,vol. 13, pp. 317- 332 ,(1985) , 10.1111/1540-6229.00357
J. Sa-Aadu, C.F. Sirmans, The pricing of adjustable rate mortgage contracts Journal of Real Estate Finance and Economics. ,vol. 2, pp. 253- 266 ,(1989) , 10.1007/BF00177947
KennethB. Dunn, ChesterS. Spatt, Private information and incentives: Implications for mortgage contract terms and pricing The Journal of Real Estate Finance and Economics. ,vol. 1, pp. 47- 60 ,(1988) , 10.1007/BF00207903
Andrea Jane Heuson, Institutional disparities in the pricing of adjustable rate mortgage loans Journal of Real Estate Finance and Economics. ,vol. 2, pp. 31- 45 ,(1989) , 10.1007/BF00161715
Michael J. Lea, Peter M. Zorn, Adjustable-Rate Mortgages, Economic Fluctuations, and Lender Portfolio Change Real Estate Economics. ,vol. 14, pp. 432- 447 ,(1986) , 10.1111/1540-6229.00396
James B. Kau, Donald C. Keenan, Walter J. Muller, James F. Epperson, The Valuation and Analysis of Adjustable Rate Mortgages Management Science. ,vol. 36, pp. 1417- 1431 ,(1990) , 10.1287/MNSC.36.12.1417