Economics, Econometrics and Finance
3 years ago

Spatial variation in mortgage decisions linked to financial literacy and resistance to shocks.

SSRN Electronic Journal
Spatial Heterogeneity in the Borrowers' Mortgage Termination Decision – a Nonparametric Approach
Lü Fang, Henry J. Munneke

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The article explores how different factors influence whether people choose to pay off or default on their mortgage loans. By using a special type of model that looks at how these decisions vary across different locations, the researchers found that people in different areas respond differently to changes in interest rates and home values. This suggests that where you live can affect how likely you are to keep up with your mortgage payments.