Date of Award
Jan Kregel, PhD.
In this report, there is a multi-faceted analysis of how the COVID-19 pandemic affected relationships within U.S. mortgage markets. First, the paper looks at the economic conditions that arose after the pandemic hit in March 2020. These conditions included a severe drop in home sales followed by the Fed consistently decreasing the Fed Funds rate. Next, the paper looks at the perspective of the individual homeowner and renter. This section touches on the lacking access to liquidity that individuals had during the pandemic, thus making it hard for them to make mortgage or rent payments. Then, there is an examination of the policy action taken to combat these conditions. This specifically looks at the CARES Act and the forbearance program that was attached to it. And to conclude, there is a look at the inequalities that arose within the mortgage market during the pandemic. These include both race- and income-based inequalities that limited people’s access to making their mortgage payments.
Myers, Jordan, "The COVID-19 Pandemic and its Effects on the Primary and Secondary Mortgage Markets in the U.S." (2022). Theses - Graduate Programs in Economic Theory and Policy. 38.