| Article ID: | iaor201522881 |
| Volume: | 10 |
| Issue: | 1 |
| Start Page Number: | 25 |
| End Page Number: | 32 |
| Publication Date: | Mar 1987 |
| Journal: | Journal of Financial Research |
| Authors: | Shilling James D, Sirmans C F |
| Keywords: | finance & banking |
The mortgage market has undergone rapid change in recent years, particularly in the introduction of alternative mortgage instruments. This paper explores one such instrument, the fast‐pay (early equity) mortgage. Specifically, in this paper the focus is on how this type of mortgage would be priced relative to the standard conventional mortgage using historical yield data.