The margin paradox in adjustable-rate mortgages

被引：3

作者：

Sprecher, CR ^{[1
]}

Willman, E

机构：

[1] E Carolina Univ, Dept Finance, Greenville, NC 27858 USA

[2] New Mexico State Univ, Dept Econ, Las Cruces, NM 88003 USA

来源：

JOURNAL OF HOUSING ECONOMICS | 1998年 / 7卷 / 02期

关键词：

D O I：

10.1006/jhec.1998.0227

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Theoretical studies have shown that the features of adjustable-rate mortgages are major determinants of the margin. This study uses a large national sample of over 800 adjustable-rate mortgages for the period 1983-1993 to test these relationships. It is shown that only the initial discount and the index are consistently related to the margin. Moreover, these variables explain only a small portion of the variation in the margin. (C) Academic Press.

引用

页码：180 / 190

页数：11