The Market for Home Mortgage Credit: Recent Changes and Future Prospects

Patric Hendershott

No 3548, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Three major changes occurred during the 1980s in the market for home mortgage credit; the securitization of fixed-rate mortgages, the development of a national primary market for adjustable-rate mortgages, and the decimation of the saving and loan industry. These changes and their impacts on various financial industries and homebuyers are the subjects of this paper. I also briefly speculate about likely future changes in this market.

Date: 1990-12
Note: ME
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Published as Gilbert, ed., Recent Changes in the Market for Financial Services, Economic Policy Conference, FRB of St. Louis, 1992, pp.99-123
Published as Patric H. Hendershott & Herbert M. Kaufman (ary), 1992. "The market for home mortgage credit: recent changes and future prospects," Proceedings, Federal Reserve Bank of St. Louis, pages 99-127.

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