The Market for Home Mortgage Credit: Recent Changes and Future Prospects
NBER Working Paper No. 3548
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.
Document Object Identifier (DOI): 10.3386/w3548