Y. E. Akgunduz, H. Ö. Dursun-de Neef, Y. Hacıhasanoğlu, Fatih Yılmaz
{"title":"信贷成本、抵押贷款需求和房价","authors":"Y. E. Akgunduz, H. Ö. Dursun-de Neef, Y. Hacıhasanoğlu, Fatih Yılmaz","doi":"10.2139/ssrn.3803383","DOIUrl":null,"url":null,"abstract":"This paper studies the relationship between mortgage rates and house prices. We exploit a sudden reduction in mortgage rates of state-owned banks in Turkey during the summer of 2020 as an exogenous shock to provide causal estimates of a decrease in the cost of credit on mortgage demand and house prices. The effects are estimated using a detailed dataset on all house sales with mortgages. We find that a 1 percentage point decrease in annual mortgage rates led to an increase in individual mortgage loans by 6.6% and an increase in house prices by 3.2%.","PeriodicalId":145273,"journal":{"name":"Monetary Economics: Central Banks - Policies & Impacts eJournal","volume":"35 18","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2021-03-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"4","resultStr":"{\"title\":\"Cost of Credit, Mortgage Demand and House Prices\",\"authors\":\"Y. E. Akgunduz, H. Ö. Dursun-de Neef, Y. Hacıhasanoğlu, Fatih Yılmaz\",\"doi\":\"10.2139/ssrn.3803383\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"This paper studies the relationship between mortgage rates and house prices. We exploit a sudden reduction in mortgage rates of state-owned banks in Turkey during the summer of 2020 as an exogenous shock to provide causal estimates of a decrease in the cost of credit on mortgage demand and house prices. The effects are estimated using a detailed dataset on all house sales with mortgages. We find that a 1 percentage point decrease in annual mortgage rates led to an increase in individual mortgage loans by 6.6% and an increase in house prices by 3.2%.\",\"PeriodicalId\":145273,\"journal\":{\"name\":\"Monetary Economics: Central Banks - Policies & Impacts eJournal\",\"volume\":\"35 18\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2021-03-12\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"4\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Monetary Economics: Central Banks - Policies & Impacts eJournal\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.2139/ssrn.3803383\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Monetary Economics: Central Banks - Policies & Impacts eJournal","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2139/ssrn.3803383","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
This paper studies the relationship between mortgage rates and house prices. We exploit a sudden reduction in mortgage rates of state-owned banks in Turkey during the summer of 2020 as an exogenous shock to provide causal estimates of a decrease in the cost of credit on mortgage demand and house prices. The effects are estimated using a detailed dataset on all house sales with mortgages. We find that a 1 percentage point decrease in annual mortgage rates led to an increase in individual mortgage loans by 6.6% and an increase in house prices by 3.2%.
求助内容：
应助结果提醒方式：
京公网安备 11010802042870号
