TY  - JOUR
AU  - Chan,Sewin
TI  - Residential Mobility and Mortgages
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 5181
PY  - 1995
Y2  - July 1995
UR  - http://www.nber.org/papers/w5181
L1  - http://www.nber.org/papers/w5181.pdf
N1  - Author contact info:
Sewin Chan
Robert F. Wagner Graduate School of Public Service
New York University
295 Lafayette Street - 2nd floor
New York, NY 10012
Tel: 212/998-7495
Fax: 212/995-3890
E-Mail: sewin.chan@nyu.edu
AB  - Mortgage applications are a detailed and accurate source of household information that is verified by underwriters, making it a more accurate data source than self-reported survey answers.  This paper discusses how mortgage data can be applied to areas of economics outside mortgage finance.  As a supplement to variables from the application form, the self-selection of mortgage points is used to infer expected mobility.  A duration model of housing spells is estimated, and the points indicator is shown to be highly significant in predicting mobility for low loan-to-value borrowers.  The findings demonstrate the potential fruitfulness of using this new data source.
ER  -