PREPAYMENT RATE IN INDIVIDUAL RESIDENTIAL MORTGAGES: AN ANALYSIS OF MACROECONOMIC AND MORTGAGE-SPECIFIC FACTORS

Seow Eng Ong () and Doreen ChzeLin Thang

ERES from European Real Estate Society (ERES)

Abstract: Using individual residential ARM mortgage data in Singapore, this study finds a low prepayment rate, which is influenced predominantly by macroeconomic factors than mortgage-specific factors. Specifically, the prepayment rate is increasing in residential property prices, but declining in income (as proxied by GDP) and volatility in mortgage Rates.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2000-06-01
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