On the Geographic Scope of Retail Mortgage Markets

Posted: 20 Jun 2018 Last revised: 25 Jun 2020

See all articles by Dean F. Amel

Dean F. Amel

Independent

Elliot Anenberg

Board of Governors of the Federal Reserve System

Rebecca Jorgensen

University of Pennsylvania, The Wharton School, Students

Date Written: 2018-06-15

Abstract

In this note, we first discuss why markets for mortgage originations are likely to be national in scope. We then show that even if mortgage markets were local, they would be unconcentrated. Finally, we test for an empirical relationship between the local concentration of mortgage lending and changes in mortgage rates and find essentially no correlation of concentration and rates.

Suggested Citation

Amel, Dean F. and Anenberg, Elliot and Jorgensen, Rebecca, On the Geographic Scope of Retail Mortgage Markets (2018-06-15). FEDS Notes No. 2018-06-15, Available at SSRN: https://ssrn.com/abstract=3199802 or http://dx.doi.org/10.17016/2380-7172.2184

Elliot Anenberg

Board of Governors of the Federal Reserve System ( email )

20th Street and Constitution Avenue NW
Washington, DC 20551
United States

Rebecca Jorgensen

University of Pennsylvania, The Wharton School, Students ( email )

3641 Locust Walk
Philadelphia, PA 19104
United States

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