Mortgage Refinancing and the Concentration of Mortgage Coupons

6 Pages Posted: 28 Jun 2007

See all articles by Paul B. Bennett

Paul B. Bennett

Fordham University Business School

Frank M. Keane

Federal Reserve Banks - Federal Reserve Bank of New York

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

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

Paul B. Bennett (Contact Author)

Fordham University Business School ( email )

1790 Broadway
New York
New York, NY 10019
United States
917 434 0226 (Phone)

HOME PAGE: http://business.fordham.edu/faculty/bennett

Frank M. Keane

Federal Reserve Banks - Federal Reserve Bank of New York ( email )

33 Liberty Street
New York, NY 10045
United States
(212) 720-6079 (Phone)
(212) 720-1941 (Fax)

Patricia C. Mosser

Federal Reserve Banks - Federal Reserve Bank of New York ( email )

33 Liberty Street
New York, NY 10045
United States

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