우리나라 16개 시도의 주택가격과 주택담보대출 간의 연계성

The purpose of this study is to investigate the impacts of the level and change rate of housing prices (both owner and rental housing prices) on the change rate of mortgage loans, using the balanced panel data over the period 2008∼2015. The empirical results are summarized as follows. First of all, the change rate of housing price has a statistically significant and positive impact on the change rate of the mortgage loan of deposit bank, regardless of the model specifications. However, the statistical significances of the estimation coefficients of housing price itself depend on the estimation models. This implies that the impact of the change rate of housing price on the deposit bank’s mortgage loan may be more significant compared with that of housing price itself. In addition, the level and change rate of owner housing price are estimated to have negative and positive impacts on the change rate of mortgage loan in non-bank depository institutions, respectively, regardless of the estimation methods. However, both the level and change rate of the rental housing price does not have significant impacts on the change rate of mortgage loan in non-bank depository institutions. It suggests that the higher mortgage value of the house, the easier it will be to get a mortgage loan from deposit banks rather than non-bank depository institutions.