Digitale Medien
Oxford, UK
:
Blackwell Publishing Ltd
Real estate economics
22 (1994), S. 0
ISSN:
1540-6229
Quelle:
Blackwell Publishing Journal Backfiles 1879-2005
Thema:
Wirtschaftswissenschaften
Notizen:
We develop and apply a valuation model that quantifies the interest rate risk inherent in fixed-rate reverse mortgages. Consistent with intuition, our results show that the interest rate risk of a reverse mortgage is greater than that of either a typical coupon bond or a regular mortgage. Somewhat surprisingly, we find that this difference in interest rate risk is extremely large. In fact, the interest rate risk of a reverse mortgage often is several orders of magnitude greater than the interest rate risk of other fixed-income securities.
Materialart:
Digitale Medien
URL:
http://dx.doi.org/10.1111/1540-6229.00639
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