The Cost of Home Mortgage Credit during the 1980s

A Quang Do and James D Shilling

Journal of Money, Credit and Banking, 1995, vol. 27, issue 3, 864-75

Abstract: This paper examines the extent to which failing or failed S&Ls systematically mispriced the cost of home mortgage credit during the 1980s. Several researchers have argued that the moral hazard problem associated with deposit insurance caused bankrupt S&Ls during the 1980s to take on high risk, high return projects and engage in aggressive underwriting practices. The authors' empirical results suggest that residential home mortgage borrowers paid a significantly lower rate at failing or failed S&Ls during the 1980s than they paid at solvent S&Ls. Copyright 1995 by Ohio State University Press.

Date: 1995
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Persistent link: https://EconPapers.repec.org/RePEc:mcb:jmoncb:v:27:y:1995:i:3:p:864-75

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