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- Title
Monetary Policy: Its Relation to Mortgage Lending and Land Economics.
- Authors
Fisher, Robert Moore
- Abstract
The article discusses the role and effect of monetary policies on real estate and mortgage market. The measures taken by central banking authority to influence money, credit and levels of interest rates called as monetary policies has a direct bearing on land economics. In recent years real estate has become more dependent on increasing amounts of credit per transaction. Since real estate market depends largely on borrowed funds so changes in monetary policy affecting credit conditions make a pervasive impact on the development. Also mortgage market has integrated with other financial markets so it has become more subject to monetary developments taking place within them. The general availability and cost of credit gets influenced by open market operations involving changes in purchases and sales of government securities, changes in reserve requirements of commercial banks which are member of Federal Reserve Bank and changes in rates and conditions under which member banks can borrow from the Federal Reserve Bank.
- Subjects
UNITED States; MONETARY policy; MORTGAGES; REAL estate development; FINANCE; REAL property; LOANS; INTEREST rates; OPEN market operations
- Publication
Land Economics, 1969, Vol 45, Issue 4, p418
- ISSN
0023-7639
- Publication type
Article
- DOI
10.2307/3145440