Mortgage Market Development, Savings, and Growth

Expanding home-ownership poses a fundament financial challenge arising out of the long-term nature of the asset, which calls for the development of institutions and markets to facilitate the flow of long-term funds. Development of the secondary mortgage market would alleviate classical maturity mismatch and liquidity issues. The public sector can provide an enabling environment with sound macroeconomic policies, corporate governance, rule of law, and enforceability of contracts. This study draws policy implications using the empirical evidence on the determinants of mortgage depth and penetration across countries. A large part of the variation in these two dimensions across countries is explained by the level of their financial development. Development of long-term sources of funds intermediated through specialized institutions seems particularly important, as we find that the development of pension funds, which are a source of long-term funding, is strongly associated with mortgage market development. Monetary and macro-economic stability, as indicated by a low and stable rate of inflation, appears to be a strong predictor of mortgage market development. We also detect a positive relationship between the degree of competition in the financial sector and mortgage market development.

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potekli Konut Finansmann Sisteminin Geliime Kooullarr: TTrkiye in Ampirik Bir Analiz (Conditions of Mortgage Market Development: A Critical Emprical Review for Turkey)

SSRN Electronic Journal ◽

10.2139/ssrn.2292698 ◽

2014 ◽

Author(s):

Yener Coskun ◽

Kursat Yalciner

Keyword(s):

Mortgage Market ◽

Market Development

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Prospects of using security mechanism in the process of rehabili-tation the building sphere in Ukraine

International Journal of Engineering & Technology ◽

10.14419/ijet.v7i3.2.14406 ◽

2018 ◽

Vol 7 (3.2) ◽

pp. 219

Author(s):

Iryna Krekoten ◽

Lyudmyla Svіstun ◽

Yulia Khudolii

Keyword(s):

Real Estate ◽

Mortgage Market ◽

Market Development ◽

Security Mechanism ◽

Residential Real Estate ◽

Mortgage Loans ◽

Mortgage Markets ◽

Advantages And Disadvantages ◽

Current State ◽

The World

In this article, securitization was investigated as one of the most important sources of financing for the construction of residential real estate in Ukraine. The main purpose of the article is to explore ways to refinance mortgage loans used in the world practice for the rehabilitation the building sphere in residential real estate and to identify ways of expanding and cheapening them. The authors have found that a depository financing model uses on the Ukrainian mortgage market has significantly reduced the possibilities for its development and makes the mortgage expensive. Also, the models of the European and American mortgage markets were compared, identified the advantages and disadvantages of each model. And the possibility of using these models in Ukraine was considered. The current state of the mortgage market in Ukraine was examined. In addition, the trend of mortgage market development in a pre-crisis and post-crisis period was demonstrated in this article. Finally, the following conclusion was drawn: in order to increase the availability of mortgage loans and to rehabilitation the construction sphere, it is necessary to introduce mechanisms for refinancing mortgage loans.

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