No abstract

No abstract

No abstract

No abstract

The innovation-adoption framework is used to determine consumers' levels of awareness of AMIs and the degrees to which they are able and willing to evaluate andlor accept the complicated alternatives available to them. A mail survey of consumers in Illinois and Wisconsin was structured to compare previous studies on this topic and to compare consumers across various demographic categories. Results indicate that awareness of AMIs is increasing, as is the willingness to accept them with an initial interest rate discount and a limitation on the range over which the interest rate can fluctuate. Findings suggest that some consumers have moved beyond the information-gathering stage, now view nontraditional mortgages as a legitimate mechanism for financing home purchases, and are willing to accept certain configurations of these instruments.