Please use this identifier to cite or link to this item: http://scholarbank.nus.edu.sg/handle/10635/46208
Title: Prepayment risk of public housing mortgages
Authors: Lee, N.J. 
Ong, S.E. 
Issue Date: 2003
Source: Lee, N.J.,Ong, S.E. (2003). Prepayment risk of public housing mortgages. Journal of Real Estate Portfolio Management 9 (3) : 251-264. ScholarBank@NUS Repository.
Abstract: This paper examines the determinants of prepayment risk of mortgages for Singapore public housing, which are adjustable rate mortgages. An understanding of the prepayment risk of mortgages is important because prepayments affect investor return from investing in mortgage-backed securities. The findings show that prepayment is positively related to market sentiments and the interest rate of public mortgages. Conversely, it is negatively related to income growth and the relative difference between private and public housing prices. The findings further imply that the prepayment rate of public mortgages is directly affected by any policies that enhance the affordability of residents of public housing to move to private housing.
Source Title: Journal of Real Estate Portfolio Management
URI: http://scholarbank.nus.edu.sg/handle/10635/46208
ISSN: 10835547
Appears in Collections:Staff Publications

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