Journal article
Tests of Borrower Perceptions in the Adjustable-Rate Mortgage Market: Do Borrowers View ARM Contracts as Distinct?
Journal of urban economics, Vol.36(1), pp.8-22
07/01/1994
DOI: 10.1006/juec.1994.1023
Abstract
This paper uses the J. Hausman and D. McFadden (1984) specification test procedure to examine the extent to which residential home mortgage borrowers perceive the wide variety of adjustable-rate mortgages offered by lenders as equivalent. The results of the paper suggest that borrowers perceive a broad array of adjustable-rate mortgages as equivalent. The findings have important public-policy implications for the development of a primary and secondary mortgage market for adjustable-rate mortgages. (c) 1994 Academic Press, Inc.
Details
- Title: Subtitle
- Tests of Borrower Perceptions in the Adjustable-Rate Mortgage Market: Do Borrowers View ARM Contracts as Distinct?
- Creators
- J Sa-AaduJames Shilling
- Resource Type
- Journal article
- Publication Details
- Journal of urban economics, Vol.36(1), pp.8-22
- DOI
- 10.1006/juec.1994.1023
- ISSN
- 0094-1190
- eISSN
- 1095-9068
- Language
- English
- Date published
- 07/01/1994
- Academic Unit
- Finance
- Record Identifier
- 9984380431502771
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