The Pandemic Mortgage Boom

Economic Insights — We learn a lot about the mortgage market by understanding why it defied expectations and thrived under COVID-19.

Featured Work

Examining Resolution of Mortgage Forbearances and Delinquencies – Third Quarter 2022

New in the Third Quarter — “Making Forbearances More Effective to Keep More Borrowers in Their Homes”

Housing Wealth and Consumption: The Role of Heterogeneous Credit Constraints

WP 22-34 – House price declines following the collapse of the housing bubble were associated with a drop in household consumption. We find that more than two-thirds of this is due to financial constraints, rather than a decline in housing wealth.

Examining Resolution of Mortgage Forbearances and Delinquencies – July/August 2022

New in July/August — “Are Mortgage Delinquencies and Forbearances Settling into a New Normal?”