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What Determine Mortgage Yield Spreads in Australia? Credit Criteria, Funding Channels and the Market Condition
Social Science Research Network
This paper empirically examines key factors that may affect mortgage yield spreads of banks and mortgage corporations in Australia, and analyses changes of lender credit policy. Literature and the recent sub-prime crisis suggest that three key factor (lender criteria, funding channel and housing price) are relevant to yield spreads. Using a large unique dataset, this paper is the first to examine these three variables together and relaxation of lender credit criteria. Regression findingsdoi:10.2139/ssrn.1262102 fatcat:6tnma5ix4ncl7nt7hplk5ugi3e