A Preliminary Investigation into the Effects of the Federal Override of State Usury Ceilings on the Supply of Mortgage Funds by FSLIC‐Insured S&Ls in New York and New Jersey
研究了高利贷上限对住宅抵押贷款供应和条款的影响，通过分析纽约和新泽西FSLIC保险储蓄贷款机构在高利贷上限存在和取消时的抵押贷款政策，证实取消上限会增加抵押贷款供应并放宽条款。
Examined is the economic theory that restrictive usury ceilings reduce the supply of residential mortgage funds and tighten terms of the mortgage instrument. Studied are the mortgage policies adopted by New York and New Jersey FSLIC‐insured S&Ls during periods when there were restrictive usury ceilings and when these usury ceilings were removed. The results clearly confirm the theory that effective elimination of usury ceilings increases the supply of mortgage funds and also liberalizes the terms of the mortgage instrument.