On the Geographic Scope of Retail Mortgage Markets

Dean F. Amel, Elliot Anenberg and Rebecca Jorgensen
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Elliot Anenberg: https://www.federalreserve.gov/econres/elliot-anenberg.htm

No 2018-06-15, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

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.

Date: 2018-06-15
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2018-06-15

DOI: 10.17016/2380-7172.2184

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