THE VALUE OF BREAKING THE BAKER'S WINDOWS:

Using a sample of 71,000 home loans from across the country that were originated between 2002 and 2012, researchers found that mortgages on homes with Energy Star certifications were on average 32% less likely to default compared with loans on homes with no energy-efficiency improvements. Energy Star homes, which can be renovated dwellings or newly built, provide documentable savings of 15% or higher on utility bills compared with houses containing minimal energy improvements. [...]

So why the big difference in payment performance among borrowers during the roller-coaster decade that saw the mortgage bubble, the housing price boom, the calamitous bust and the start of a recovery? To Cliff Majersik, executive director of the Institute for Market Transformation, a Washington, D.C., think tank that sponsored the research, there's no question.

"It stands to reason," he said, "that energy-efficient homes should have a lower default rate because the owners of these homes save money on their utility bills, and they can put that money toward their mortgage payments."

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