EconPapers    
Economics at your fingertips  
 

Une mesure composite du risque des prêts hypothécaires

Joseph Chung, Minh Chau To and Minh Anh Thrin
Additional contact information
Joseph Chung: Professeur de Sciences économiques (UQAM)
Minh Chau To: Professeur de Sciences administratives (UQAM)
Minh Anh Thrin: Coordonnateur des Recherches économiques (Société Canadienne d’Hypothèques et de Logement)

L'Actualité Economique, 1982, vol. 58, issue 4, 463-476

Abstract: In this study, a cardinal and continuous measure of the default risk of mortgage loans is proposed, in departure from past studies where that risk was measured by dichotomous or categorical variables. The cardinal and continuous measure of risk is obtained by use of the canonical factor analytic technique. The unique factor of risk is a linear combination of the rate of return on equity, of the break-even rental income and of the vacancy rate of the property, and also of the relative term of the mortgage loans. It is found that the default risk of mortgage loans is well explained by the attributes of the property and of the neighbourhood, as well as by the location and the mortgage ratio. Furthermore, the buyer seems to incur hidden transaction costs which increase his risk level over that observed of the seller.

Date: 1982
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://id.erudit.org/iderudit/601033ar

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ris:actuec:v:58:y:1982:i:4:p:463-476

Access Statistics for this article

L'Actualité Economique is currently edited by Benoit Dostie

More articles in L'Actualité Economique from Société Canadienne de Science Economique Contact information at EDIRC.
Bibliographic data for series maintained by Benoit Dostie ( this e-mail address is bad, please contact ).

 
Page updated 2025-03-19
Handle: RePEc:ris:actuec:v:58:y:1982:i:4:p:463-476