## Fixed versus Adjustable Mortgages

### Description

Cross-section data about fixed versus adjustable mortgages for
78 households.

### Usage

`data("Mortgage")`

### Format

A data frame containing 78 observations on 16 variables.

- rate
Factor with levels `"fixed"`

and `"adjustable"`

.

- age
Age of the borrower.

- school
Years of schooling for the borrower.

- networth
Net worth of the borrower.

- interest
Fixed interest rate.

- points
Ratio of points paid on adjustable to fixed rate mortgages.

- maturities
Ratio of maturities on adjustable to fixed rate mortgages.

- years
Years at the present address.

- married
Factor. Is the borrower married?

- first
Factor. Is the borrower a first-time home buyer?

- selfemp
Factor. Is the borrower self-employed?

- tdiff
The difference between the 10-year treasury rate less the 1-year treasury rate.

- margin
The margin on the adjustable rate mortgage.

- coborrower
Factor. Is there a co-borrower?

- liability
Short-term liabilities.

- liquid
Liquid assets.

### Source

The data is from Baltagi (2002).

### References

Baltagi, B.H. (2002). *Econometrics*, 3rd ed. Berlin, Springer.

Dhillon, U.S., Shilling, J.D. and Sirmans, C.F. (1987). Choosing Between Fixed and
Adjustable Rate Mortgages. *Journal of Money, Credit and Banking*, **19**, 260–267.

### See Also

`Baltagi2002`

### Examples

```
data("Mortgage")
plot(rate ~ interest, data = Mortgage, breaks = fivenum(Mortgage$interest))
plot(rate ~ margin, data = Mortgage, breaks = fivenum(Mortgage$margin))
plot(rate ~ coborrower, data = Mortgage)
```