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

46 Pages Posted: 5 Nov 2009

See all articles by John Beshears

John Beshears

Harvard Business School; National Bureau of Economic Research (NBER)

Daniel Bergstresser

Brandeis International Business School

Multiple version iconThere are 2 versions of this paper

Date Written: 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.

Keywords: Mortgages, ARMs

JEL Classification: G21

Suggested Citation

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

John Beshears

Harvard Business School ( email )

Soldiers Field Road
Morgan 270C
Boston, MA 02163
United States

National Bureau of Economic Research (NBER) ( email )

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Daniel B. Bergstresser (Contact Author)

Brandeis International Business School ( email )

Waltham, MA 02454
United States
6174162324 (Phone)

Register to save articles to
your library

Register

Paper statistics

Downloads
91
Abstract Views
1,036
rank
109,383
PlumX Metrics