How Do Households Make Mortgage Choices?

Real Estate Economics, Virtual Issue, 2016

9 Pages Posted: 11 Nov 2016 Last revised: 7 Dec 2016

See all articles by Andra C. Ghent

Andra C. Ghent

University of North Carolina (UNC) at Chapel Hill - Finance Area

Vincent Yao

Georgia State University - J. Mack Robinson College of Business

Date Written: November 11, 2016

Abstract

This paper reviews recent literature on how households make decisions regarding residential mortgages. We focus on recent publications in Real Estate Economics that are related to households’ mortgage choices.

The paper covers four areas:

(1) the role of intermediaries such as mortgage brokers;

(2) how households choose between a fixed and an adjustable rate mortgage;

(3) how homeowners choose between other features of mortgage contracts; and

(4) reverse mortgages.

Keywords: Mortgage Choice; Broker; Contracts; Reverse Mortgages

Suggested Citation

Ghent, Andra C. and Yao, Vincent, How Do Households Make Mortgage Choices? (November 11, 2016). Real Estate Economics, Virtual Issue, 2016, Available at SSRN: https://ssrn.com/abstract=2867440

Andra C. Ghent

University of North Carolina (UNC) at Chapel Hill - Finance Area ( email )

Kenan-Flagler Business School
Chapel Hill, NC 27599-3490
United States

Vincent Yao (Contact Author)

Georgia State University - J. Mack Robinson College of Business ( email )

35 Broad Street
Atlanta, GA 30303-3083
United States

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