qN(xr]g0 ~U00p_ 8 Nov 2007 12:34adjustionfixratemargin_incomeyieldeonspointsmaturitynetworth%9.0g %9.0g %9.0g %9.0g %9.0g %9.0g %9.0g = 1 if an adjustable rate mortgage is chosen@?#@?YA?ף?@?#= fixed interest rateate mortgage is chosen@?#@?YA?ף?@?#= the variable rate less the fixed rateosen@?#@?YA?ף?@?#= the 10-year treasury rate less the one year treasury rateYA?ף?@?#= ratio of points paid on adjustable rates to those paid on fixed rates@?#= ratio of maturities on adjustable to fixed rates paid on fixed rates@?#= net worth of borrower adjustable to fixed rates paid on fixed rates@?#y_dtaled'oled'ercooled' `all' note1aT0 \b{;The authors wish to thank C.F. Sirmans for these data.D_dtaled'oled'ercooled' `all' note0aT0 \b{1?YA?ף?@?#@?YA?ף?@?#@?YA?ף?@?#@?YA?ף?@?@?`A@ף???E@?`A@ף???X9A?`A@ף???X9A?YA?ף?@?#@?XA@???HA?\A(@?@+?A?`A@???@?`A@???@?XA@???HA?`A33>??+? ׳@?ff^A\B@?@?vFA?\A@? @?#@?\A@? @?#@?\A@? @?#@?\A@? @?#@?\A@? @?#@?\A@? @?#@XA@???HA{^A33>\@zT??Q@{^A33>\@zT??Q@{^A33>\@zT??Q@XA@???HAXA= w@?p=?= >V?{FAR.@33?z?Y?{?{BA= W@?z?Y?=DA= W@?z?Y?\b?{FA= W@?z?Y?K>{FA= W@?z?Y?>DA= W@?z?Y?!?ffFA= W@?z?Y?X9>HAff@\??(?PA= g@Q???;?TA= g@Q?H@?&YADAff&@?33#@{n?E>PA@?@?{.>HAff&@?\?{n?D>HAff&@?33#@{n?+>HAff&@?\?{n?L@PA= w@?p?Q?C[@HAff&@?33#@{n?+?TA= w@?p?\?+=HAff&@??{n?v>>LA= w@?p?Y?u8?{BA= W@?z?Y?>LA= w@?p?Y?bX>DAR.@33?R?Y?= >LAff&@?\B?{n??TA@?Qx?µ?J?ff^A\B@?@?ˡ>DAff&@?ף0?{n?R>?LA@?H>33s?"=ff^A\B@?@?Mb?IA= W@?z?Y??`A@???>33[A@?Qx?Q@1L?\A\B@?@?v>\A??+??5^*@YA?ף?@?V?`A@???/ݤ>PA@?@?h=UA33>\@??)\>XA33>\@??L7>`A33>\@??-b@?Qף?R>?({?Ġ>?`Az?R???>?pMAY?@?Q>?\Afff???B`e?HA33s?\?+??5^:>?HA\???7>?\A??+??4??\A33>\@??#=?hAff@\??1>?`Ǎ?R??Q=