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Mortgage Choice Determinants: The Role of Risk and Bank Regulation

Dungey, Mardi; Doko Tchatoka, Firmin; Wells, Graeme; Yanotti, Maria


We shed new light on the role of borrower characteristics in mortgage product choice, and how these are impacted by regulatory capital requirements. Using rich loan-level data from the Australian market, we analyse the borrower idiosyncratic risk effects on the choice between variable-rate mortgages and other mortgages with reduced initial payments. We find that income, wealth and mobility risks play a role in product choice. We investigate regulatory capital requirements in a market where...[Show more]

CollectionsANU Research Publications
Date published: 2015
Type: Journal article
Source: The Economic Record
DOI: 10.1111/1475-4932.12205


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