Brief HARP Significantly Reduced Mortgage Default Rates
Jun Zhu
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This commentary discusses the impact of the federal government's Home Affordable Refinance Program (HARP) on mortgage loan default rates between April 2009 and November 2011. We analyze a unique borrower-level data set from Freddie Mac and conclude that HARP more than halved the default rate, a material and significant improvement.
Research Areas Housing finance Housing
Tags Federal housing programs and policies
Policy Centers Housing Finance Policy Center