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Please use this identifier to cite or link to this item: http://hdl.handle.net/2192/104

 
Title: Choosing Between Fixed and Adjustable Rate Mortgages
Authors: Paiella, Monica
Pozzolo, Alberto Franco
Keywords: home purchase finance
adjustable rate mortgages
fixed rate mortgages.
Issue Date: 10-Apr-2007
Abstract: This paper estimates the determinants of households choice between fixed rate (FRM) and adjustable rate mortgage (ARM) contracts, using the Bank of Italy s Survey of Household Income and Wealth. Contrary to the predictions of the theoretical literature, the analysis shows that most household characteristics proxying for exposure to other (non-mortgagerelated) risks and for individual risk aversion are irrelevant for the choice. This, in turn, crucially depends on the relative price of the
...more
URI: http://hdl.handle.net/2192/104
Appears in Collections:4 - REPEC
Econpapers

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