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Income elasticity of demand (YED) measures the relationship between a change in quantity demanded for good X and a change in real income. The formula for calculating income elasticity of demand:

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June 17 2013|Filed Under Fixed Income,Interest Rate Policy,MBS,Mortgage,Mortgage RatesMortgages come in two primary forms,fixedrate andadjustablerate, with some hybrid combinations and multiple derivatives of each. Abasic understanding of interest ratesand the economic influences that determine the future course of interest rates can help consumers make financially sound mortgage decisions, such as making the choice between a fixed-rate mortgage or adjustable-rate mortgage (ARM) or deciding whether torefinanceout of an adjustable-rate mortgage.In this article, we'll discuss the influence of interest rates on the mortgage industry, and how both will ultimately affect the amount you pay for your home.The Mortgage Production LineThe mortgage industry has three primary parts or businesses: themortgage originator, theaggregatorand the investor.The mortgage originator is the lender. Lenders come in several forms, fromcredit unionsand banks tomortgage brokers. Mortgage originators introduce and market loans to consumers. They sell loans. They compete with each other based on the interest rates, fees and service levels that they offer to c

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