Spain: Financial Sector Assessment Program: Technical Note: Housing Prices, Household Debt, and Financial Stability

International Monetary Fund

No 2006/210, IMF Staff Country Reports from International Monetary Fund

Abstract: This report reviews the macroeconomic determinants of the rapid growth in the Spanish housing market, including various policy elements. It examines the vulnerabilities of households' finances as a result of the rapid growth of housing prices and mortgage debt. It also describes the Spanish mortgage market and assesses the resilience of the financial sector to a possible adjustment in the housing and mortgage markets. It presents a market-based indicator to show the market views on the quality of the mortgage portfolio and also provides recommendations.

Keywords: ISCR; CR; mortgage contract; asset swap; mortgage lending; rate mortgage; fall scenario; mortgage portfolio; credit institution; housing price; Mortgages; Housing prices; Credit; Housing; Loans (search for similar items in EconPapers)
Pages: 27
Date: 2006-06-14
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Citations: View citations in EconPapers (3)

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