The Effect of Mortgage Rate Resets on Debt: Evidence from TransUnion (Part I)

Katya Kartashova

No 2020-2, Staff Analytical Notes from Bank of Canada

Abstract: This note studies how decreases in mortgage rates affect the behaviour of borrowers in terms of spending on durable goods and repaying debt. It focuses on borrowers with the prevailing five-year fixed-rate mortgage term in Canada who renewed their contracts at lower interest rates between January 2015 and December 2016.

Keywords: Credit and credit aggregates; Housing; Interest rates; Monetary Policy; Transmission of monetary policy (search for similar items in EconPapers)
JEL-codes: D12 D14 E43 E52 G21 R31 (search for similar items in EconPapers)
Pages: 8 pages
Date: 2020-01
New Economics Papers: this item is included in nep-ban, nep-mac and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:bca:bocsan:20-2

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