The Choice between Fixed and Variable Rate Mortgages: Evidence from National Data

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Title

The Choice between Fixed and Variable Rate Mortgages: Evidence from National Data

Authors

O'Brien, A. Maureen

Wong, Shee Q

Published Date

1987

Publisher

Bureau of Business and Economic Research

Type

Working Paper

Abstract

This paper investigates the choice between fixed and adjustable rate mortgages based on national data. Using a probit specification, the choice theorectic model includes the mortgage price variables, borrower and city characteristics. Once intercity variations are controlled for, the likelihood ratio tests provide evidence that, in addition to the conventional price variables, both borrower and city characteristics play a significant role in the choice among mortgage instruments.

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Bureau of Business and Economic Research

University of Minnesota Duluth

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The year given (1987) is an estimate.

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Bureau of Business and Economic Research (BBER) Working Papers

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Working Paper No. 87-19

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O'Brien, A. Maureen; Wong, Shee Q. (1987). The Choice between Fixed and Variable Rate Mortgages: Evidence from National Data. Retrieved from the University Digital Conservancy, https://hdl.handle.net/11299/264666.

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