We study the evolution of US mortgage credit supply during COVID-19 pandemic. Although market experienced a historic boom in 2020, we show there was also large and sustained increase intermediation markups that limited pass-through low rates to borrowers. Markups typically rise periods peak demand, but this historical relationship explains only part present evidence pandemic-related labor frict...

Understanding mortgage prepayment is crucial for any financial institution providing mortgages, and it important hedging the risk resulting from such unexpected cash flows. Here, in setting of a Dutch provider, we propose to include nonlinear instruments hedge portfolio when dealing with mortgages option prepay part notional early. Based on assumption that there correlation between interest rat...

We develop a life-cycle optimal investment and consumption model with deferred annuities, housing, mortgages home equity release. The investor can hold cash, bonds, stocks, annuities invest in through renting, purchasing, or mix of both, access to variable-rate mortgages. In retirement, the his housing form release called reversion contract. Transaction costs, taxes management fees are explicit...