住宅ローン選択と住宅需要の推定
危険回避度と金利の影響
2007 年 21 巻 1 号 p. 94-103
詳細
2007 年 21 巻 1 号 p. 94-103
After the reform of the Government Housing Loan Corporation (GHLC) in 2001, various types of housing loan have been supplied and adjustable rate loan and short time fixed rate loan is increasing in Japan. This paper examines how the mortgage choice between the adjustable rate loan (ARM; including short time fixed rate loan) and the fixed rate loan (FRM) is done and how the change of interest rate influences the choice and the demand for housing. We obtain the results that the mortgage choice is influenced not only by the difference between the rate of FRM and that of ARM but also risk aversion and that the housing demand is decreasing by about 1.63% if ARM rates are raised by 1%.
