Mortgage Refinancing and the Concentration of Mortgage Coupons

Bennett, Paul B.; Keane, Frank M.; Mosser, Patricia C.

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Mortgage Refinancing and the Concentration of Mortgage Coupons

Current Issues in Economics and Finance, Vol. 5, No. 4, March 1999

6 Pages Posted: 28 Jun 2007

See all articles by Paul B. Bennett

Patricia C. Mosser

Federal Reserve Banks - Federal Reserve Bank of New York

Abstract

Because of the concentrated distribution of interest rates on outstanding mortgages, modest interest rate declines in 1997 and 1998 made refinancing a smart choice for a record number of homeowners. In addition, the strong economy and the age of mortgage loans likely contributed to the surge in refinancing activity.

Keywords: mortgage prepayment refinancing

JEL Classification: G21

Suggested Citation: Suggested Citation

Bennett, Paul B. and Keane, Frank M. and Mosser, Patricia C., Mortgage Refinancing and the Concentration of Mortgage Coupons. Current Issues in Economics and Finance, Vol. 5, No. 4, March 1999, Available at SSRN: https://ssrn.com/abstract=996836