住房抵押贷款提前偿还补偿问题研究

住房抵押贷款提前偿还不仅会增加商业银行资产与负债匹配的难度，而且会对其未来收益存在负面影响，基于借款人和商业银行各自的行为决策，建立约束优化模型，分别对浮动利率和固定利率情形下住房抵押贷款提前还款违约金率与提前还款比率之间的关系进行分析。研究发现在浮动利率和固定利率抵押贷款市场中，供给曲线和需求曲线符合一般商品市场的供求规律，但不同市场中的供给曲线及需求曲线斜率并不相同。据此，构建住房抵押贷款提前还款市场的一般均衡分析框架，分析实现社会福利最大化时的均衡解以及偏离均衡解时的福利损失。

On the Compensation of Mortgage Prepayment

Mortgage prepayment not only increases the difficulty of matching commercial bank assets and liabilities but also has a negative impact on its future earnings. Therefore, necessary compensation should be provided. Based on the decisions made by borrowers and commercial banks, this paper establishes constrained optimization model and respectively analyzes the relationship between the mortgage prepayment default rate and prepayment rate in the case of floating rate and fixed rate. The study finds that in the floating rate and fixed rate mortgage market supply and demand curves generally comply with the laws of supply and demand in general commodity markets, but the slopes of the supply curve and demand curve in diverse markets are different. Accordingly, the general equilibrium analysis framework of mortgage prepayment market should be constructed. Then it is possible to analyze the equilibrium solution to maximum social welfare and the welfare loss when the market deviates from equilibrium.