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Caracterización de las Tasas de Interés de Créditos para la Vivienda

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  • Patricio Hevia
  • César Vásquez

Abstract

This document presents a characterization of the average interest rate of mortgage loans published by the Central Bank of Chile. This characterization has been done from an analysis of the level and coefficient of variation of the interest rates for different grouping of credits according to amount and term. In particular, this paper uses the data from loans for the acquisition of a property with a price adjusted by inflation (unidad de fomento, UF) for the period 2013-2016. The main result obtained is that groups according to amount and term have a different level of interest rate and dispersion. The breakdowns studied exhibit a high correlation with the aggregate rate. Therefore, the interest rate published by the Central Bank of Chile is representative of the behavior of different types of credit that exist in the mortgage market.

Suggested Citation

  • Patricio Hevia & César Vásquez, 2017. "Caracterización de las Tasas de Interés de Créditos para la Vivienda," Economic Statistics Series 122, Central Bank of Chile.
    • Handle: RePEc:chb:bcchee:122
    as

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    References listed on IDEAS

    as
    1. Jason Allen & Robert Clark & Jean-François Houde, 2014. "Price Dispersion in Mortgage Markets," Journal of Industrial Economics, Wiley Blackwell, vol. 62(3), pages 377-416, September.
    2. W.H.J. Hassink & M. van Leuvensteijn, 2003. "Price-settings and Price Dispersion in the Dutch Mortgage Market," Working Papers 03-07, Utrecht School of Economics.
    3. repec:use:tkiwps:077 is not listed on IDEAS
    4. Arbatskaya, Maria & Baye, Michael R., 2004. "Are prices 'sticky' online? Market structure effects and asymmetric responses to cost shocks in online mortgage markets," International Journal of Industrial Organization, Elsevier, vol. 22(10), pages 1443-1462, December.
    5. Lombra, Raymond E & Kaufman, Herbert M, 1975. "Interest Rate Seasonality and the Specification of Money Demand Functions: A Note," The Review of Economics and Statistics, MIT Press, vol. 57(2), pages 252-255, May.
    6. Erika Arraño & Pablo Filippi & César Vásquez, 2015. "Estadísticas de Tasas de Interés del Sistema Bancario," Economic Statistics Series 113, Central Bank of Chile.
    Full references (including those not matched with items on IDEAS)

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