On the Geographic Scope of Retail Mortgage Markets
Posted: 20 Jun 2018 Last revised: 25 Jun 2020
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: 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
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