登入選單

返回Google圖書搜尋

Reverse Mortgages and Interest Rate Risk

Thomas P. Boehm

出版	SSRN, 2000
URL	http://books.google.com.hk/books?id=OD_ozgEACAAJ&hl=&source=gbs_api

註釋

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 magnitudes greater than the interest rate risk of other fixed-income securities.