David I. Leece

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The paper presents an econometric analysis of the choice by households in the United Kingdom, of ®xed rate mortgage debt covering the years 1991 to 1994 inclusive. Fixed rate mortgage instruments soon became a numerically signi®cant mortgage choice. For example the proportion of new mortgages that were ®xed rate was 46 percent in the ®rst quarter of 1993(More)
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