NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

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

Patric H. Hendershott

NBER Working Paper No. 3548
Issued in December 1990
NBER Program(s):Monetary Economics

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.

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Document Object Identifier (DOI): 10.3386/w3548

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