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Who Selected Adjustable-Rate Mortgages? Evidence from the 1989-2007 Surveys of Consumer Finances


John Leonard Beshears


National Bureau of Economic Research (NBER); Stanford Graduate School of Business

Daniel Bergstresser


Harvard Business School

November 4, 2009


Abstract:     
We find evidence that households selecting Adjustable Rate Mortgages (ARMs) during the recent decade were disproportionately those who were less suspicious or who may have had difficulty understanding complicated ARM features that became commonplace prior to the financial crisis.

Number of Pages in PDF File: 46

Keywords: Mortgages, ARMs

JEL Classification: G21

working papers series


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Date posted: November 5, 2009  

Suggested Citation

Beshears, John Leonard and Bergstresser, Daniel B., Who Selected Adjustable-Rate Mortgages? Evidence from the 1989-2007 Surveys of Consumer Finances (November 4, 2009). Available at SSRN: http://ssrn.com/abstract=1499959 or http://dx.doi.org/10.2139/ssrn.1499959

Contact Information

John Leonard Beshears
National Bureau of Economic Research (NBER) ( email )
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
Stanford Graduate School of Business ( email )
518 Memorial Way
Stanford, CA 94305-5015
United States
Daniel B. Bergstresser (Contact Author)
Harvard Business School ( email )
Soldiers Field Road
Morgan 270C
Boston, MA 02163
United States
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