The role of the initial discount in the pricing of adjustable-rate mortgages

被引：0
|
作者：
Sprecher, CR [1 ]
Willman, E
机构：
[1] E Carolina Univ, Greenville, NC 27858 USA
[2] New Mexico State Univ, Las Cruces, NM 88003 USA
来源：
JOURNAL OF HOUSING ECONOMICS | 2000年 / 9卷 / 1-2期
关键词：
D O I：
10.1006/jhec.2000.0260
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Little attention has been given to the role of the initial discount in the pricing of adjustable-rate mortgages. Only recently has the importance of the initial discount in the selection of adjustable-rare mortgages been recognized. This study finds that the initial discount plays a central role in the pricing process. It is shown that the initial discount is related to the features of adjustable-rate mortgages, such as the points, the caps, and most importantly the margin, the interest rate environment, and the demand for adjustable-rate mortgages. (C) 2000 Academic Press.
引用
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页码：64 / 75
页数：12
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