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Residential Mobility and Mortgages / Sewin Chan.
- Format:
- Book
- Author/Creator:
- Chan, Sewin.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w5181.
- NBER working paper series no. w5181
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1995.
- Summary:
- 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.
- Notes:
- Print version record
- July 1995.
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