Yang Xu - Latest

• Housing demand in Canada: A novel approach to classifying mortgaged homebuyers

  Staff Analytical Note 2022-1 Mikael Khan, Yang Xu

  We introduce a novel approach to categorize mortgaged homebuyers into first-time homebuyers, repeat homebuyers and investors. We show how these groups contribute to activity in Canadian housing markets, and we analyze the differences in their demographic and financial characteristics.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Financial stability, Housing JEL Code(s): R, R2, R21, R3, R31

• Can the characteristics of new mortgages predict borrowers’ financial stress? Insights from the 2014 oil price decline

  Staff Analytical Note 2021-22 Olga Bilyk, Ken Chow, Yang Xu

  We study the relationship between characteristics of new mortgages and borrowers’ financial stress in Canada’s energy-intensive regions following the 2014 collapse in oil prices. We find that borrowers with limited home equity were more likely to have difficulty repaying debt.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Credit and credit aggregates, Econometric and statistical methods, Financial stability, Housing JEL Code(s): C, C2, C25, D, D1, D14, G, G2, G21, G5, G51, R, R2, R21
• May 27, 2020

  What’s behind your mortgage rate

  

  Yang Xu, Yi Zheng

  Here’s what determines the interest rate on your mortgage—and why that rate can go up and down.

  Content Type(s): Publications, The Economy, Plain and Simple Topic(s): Financial services, Housing, Interest rates, Monetary policy transmission
• November 28, 2017

  Analysis of Household Vulnerabilities Using Loan-Level Mortgage Data

  Financial System Review - November 2017 Olga Bilyk, Alexander Ueberfeldt, Yang Xu

  This report examines detailed data on home mortgages to provide a better understanding of the vulnerabilities associated with the mortgage market. The proportion of low-ratio mortgages is growing, particularly in regions with strong house price growth. Moreover, these borrowers exhibit less flexibility to adverse shocks, since they have high debt levels relative to income and have taken mortgages with long amortization periods.

  Content Type(s): Publications, Financial System Review articles Topic(s): Credit and credit aggregates, Recent economic and financial developments, Sectoral balance sheet JEL Code(s): D, D1, D12, D14, G, G2, G21, G28