Teaser Rates in Conventional Adjustable-Rate Mortgage (ARM) Markets

被引：0
|
作者：
Houston, Joel F. [1 ]
Sa-Aadu, J. [2 ]
Shilling, James D. [3 ]
机构：
[1] Univ Florida, Dept Finance Insurance & Real Estate, Gainesville, FL 32611 USA
[2] Univ Iowa, Dept Finance, Iowa City, IA 52242 USA
[3] Univ Wisconsin, Sch Business, Dept Real Estate & Urban Land Econ, Madison, WI 53706 USA
来源：
JOURNAL OF REAL ESTATE FINANCE AND ECONOMICS | 1991年 / 4卷 / 01期
关键词：
Adjustable rate mortgages; Teaser rates; Mortgage pricing;
D O I：
暂无
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This article examines the pricing of teaser rates on adjustable-rate mortgages (ARMs). The theory indicates that lenders may offset teaser rates on ARMs through an increase in upfront fees or points, through looser life of loan rate caps, or through higher contract rates after the teaser has expired. Cross-sectional regression results fail to reject the null hypothesis that teaser ARMs are correctly priced.
引用
收藏
页码：19 / 31
页数：13
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