doi:10.1080/13504851.2016.1142648engFerruz, L.Lample, L.Analysis of the impact of excess mortgages on housing prices using the cointegration testART-2016-94959This article attempts to explain and predict housing prices by constructing a model based on the variables that most influence demand: the theoretical purchase effort index without tax deductions as well as a new and innovative indicator that includes the excess of mortgages granted. The Johansen methodology for cointegration analysis reveals the existence of long-run equilibrium and the model’s subsequent ECM, to verify the statistical significance of the variables, confirms the validity of the model concerning this Spanish case study.2016http://zaguan.unizar.es/record/13040110.1080/13504851.2016.1142648http://zaguan.unizar.es/record/130401oai:zaguan.unizar.es:130401APPLIED ECONOMICS LETTERS 23, 16 (2016), [5 pp.]by-nchttp://creativecommons.org/licenses/by-nc/3.0/es/info:eu-repo/semantics/openAccess