Non-interest credit rationing in the UK mortgage market

Joseph G. Nellis and Rodney Thom

No 198204, Working Papers from School of Economics, University College Dublin

Abstract: UK data is used to test the hypothesis that non-interest terms adjust to clear the mortgage market when the mortgage rate is sluggish in adjusting to its market equilibrating level. This hypothesis is not supported by the data. An alternative approach is suggested and conjectures that non-interest terms are varied so as to discriminate among borrowers, satisfying some but leaving the market not cleared. Empirical tests offer support for the alternative approach.

Keywords: Mortgage loans--Great Britain; Banks and banking--Great Britain; Mortgage loans--Mathematical models (search for similar items in EconPapers)
Date: 1982-10
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10197/1397 First version, 1982 (application/pdf)

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:ucn:wpaper:198204

Access Statistics for this paper

More papers in Working Papers from School of Economics, University College Dublin Contact information at EDIRC.
Bibliographic data for series maintained by Nicolas Clifton ().