Abstract

http://ssrn.com/abstract=1942424
 


 



Do Women Pay More for Mortgages?


Ping Cheng


Florida Atlantic University - Department of Industry Studies

Zhenguo Lin


California State University, Fullerton - Department of Finance

Yingchun Liu


Laval University - Department of Finance, Insurance and Real Estate

October 11, 2011

Journal of Real Estate Finance and Economics, Vol. 43, No. 4, 2011

Abstract:     
This paper documents women on average pay more for mortgages than men. The disparity cannot be fully explained by traditional variables such as mortgage features, borrower characteristics, and market conditions. While the persistence of gender disparity may suggest discrimination, we offer a different explanation: women pay higher rates because they are more likely to choose lenders by recommendation while men tend to search for the lowest rate. Our empirical test confirms that search effort is rewarded in marketplace, and suggests that gender disparity in mortgage rates may be addressed by policies aimed at improving women's financial literacy and search skills.

Keywords: Mortgage, Gender discrimination, Borrower behavior, Interest rates

Accepted Paper Series


Not Available For Download

Date posted: October 13, 2011  

Suggested Citation

Cheng, Ping and Lin, Zhenguo and Liu, Yingchun, Do Women Pay More for Mortgages? (October 11, 2011). Journal of Real Estate Finance and Economics, Vol. 43, No. 4, 2011. Available at SSRN: http://ssrn.com/abstract=1942424

Contact Information

Ping Cheng (Contact Author)
Florida Atlantic University - Department of Industry Studies ( email )
College of Business
777 Glades Road
Boca Raton, 33431
United States
561-297-3456 (Phone)
561-297-3686 (Fax)
Zhenguo Lin
California State University, Fullerton - Department of Finance ( email )
Fullerton, CA 92835
United States
6572787929 (Phone)
HOME PAGE: http://business.fullerton.edu/finance/zlin/
Yingchun Liu
Laval University - Department of Finance, Insurance and Real Estate ( email )
Quebec, Quebec G1V 0A6
Canada
418-656-2131 X 7501 (Phone)
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