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Roche, Maurice and Duffy, David (2005) Heterogeneour Homebuyers, Mortage Choice and the Use of Mortage Brokers. UNSPECIFIED. (Unpublished)
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Abstract
Choosing a mortgage product in the face of labor income risk, interest rate risk and borrowing constraints is one of the most important decisions facing a household. This paper investigates the choice between a variety of fixed rate mortgages and adjustable rate mortgages. We find that households with a high loan-to-value ratio, risky income and high risk aversion are more likely to choose a fixed rate mortgage. Choosing a mortgage product relies market search and information. The paper finds that in general first-time homebuyers and those with a high loan-to-value ratio are more likely to use a mortgage broker.
| Item Type: | Other |
|---|---|
| Additional Information: | Department of Economics Working Paper Series N152/02/05 |
| Keywords: | Mortgage choice, First-time homebuyer, Mortgage broker, Information, Predatory Lending |
| Academic Unit: | Faculty of Social Sciences > Economics, Finance and Accounting |
| Item ID: | 209 |
| Depositing User: | Ms Sandra Doherty |
| Date Deposited: | 28 Feb 2005 |
| Refereed: | No |
| URI: | https://mural.maynoothuniversity.ie/id/eprint/209 |
| Use Licence: | This item is available under a Creative Commons Attribution Non Commercial Share Alike Licence (CC BY-NC-SA). Details of this licence are available here |
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