Residential mobility and mortgages

Research output: Contribution to journalArticlepeer-review

Abstract

Mortgage applications are a detailed and accurate source of household information that is verified by underwriters, making it a more accurate data source than self-reported survey answers. This paper discusses how mortgage data can be applied to areas of economics outside mortgage finance. As a supplement to variables from the application form, the self-selection of mortgage points is used to infer expected mobility. A duration model of housing spells is estimated, and the points indicator is shown to be highly significant in predicting mobility for low loan-to-value borrowers. The findings demonstrate the potential fruitfulness of using this new data source.

Original languageEnglish (US)
Pages (from-to)287-311
Number of pages25
JournalRegional Science and Urban Economics
Volume26
Issue number3-4
DOIs
StatePublished - Jun 1996

Keywords

  • Institutions
  • Micro data
  • Mortgage points
  • Residential mobility

ASJC Scopus subject areas

  • Economics and Econometrics
  • Urban Studies

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