{"product_id":"niels-rom-callable-mortgage-bonds-9783031878886","title":"Callable Mortgage Bonds","description":"Callable mortgage bonds are utilized by individuals and companies to finance the purchase of real estate, and this asset class therefore plays a crucial role in modern society. Callable mortgage bonds constitute an enormous asset class and often offer long-term stable investments that are very attractive for pension funds. This book focuses on the pricing and calculation of risk numbers of callable fixed-rate mortgage bonds. Owing to the, from a financial perspective, irrational behaviour of borrowers, the pricing of these instruments usually requires the use of numerical solutions. Traditionally, it has been either a Monte Carlo simulation or a Finite Difference method. This book covers both methods and, in addition, the relatively new Fourier technique. This latter technique also creates a link between the interest rate derivatives market and the market for callable mortgage bonds. Finally, a chapter presenting a model for the valuation of a mortgage credit institute’s loan book is included.","brand":"Springer","offers":[{"title":"Default Title","offer_id":53682330992982,"sku":null,"price":0.0,"currency_code":"EUR","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0925\/5829\/5382\/files\/product_image_9783031878886_1.jpg?v=1778851081","url":"https:\/\/www.momoxbooks.com\/products\/niels-rom-callable-mortgage-bonds-9783031878886","provider":"momoxbooks","version":"1.0","type":"link"}