Residential mobility and mortgages

Sewin Chan

doi:10.1016/0166-0462(95)02117-5

Residential mobility and mortgages

Research output: Contribution to journal › Article › peer-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 language	English (US)
Pages (from-to)	287-311
Number of pages	25
Journal	Regional Science and Urban Economics
Volume	26
Issue number	3-4
DOIs	https://doi.org/10.1016/0166-0462(95)02117-5
State	Published - Jun 1996

Keywords

Institutions
Micro data
Mortgage points
Residential mobility

ASJC Scopus subject areas

Economics and Econometrics
Urban Studies

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10.1016/0166-0462(95)02117-5

Cite this

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title = "Residential mobility and mortgages",

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.",

keywords = "Institutions, Micro data, Mortgage points, Residential mobility",

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AB - 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.

KW - Institutions

KW - Micro data

KW - Mortgage points

KW - Residential mobility

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IS - 3-4

ER -

Residential mobility and mortgages

Abstract

Keywords

ASJC Scopus subject areas

Access to Document

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