Do People Leave Money on the Table? Evidence from Joint Mortgage Applications and the Minimum FICO Rule

Geng Li, Weifeng Wu and Vincent Yao

No 2016-03-28, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: There is mounting evidence that households make suboptimal savings and investment decisions. this note presents novel evidence that many mortgage borrowers appear to have failed to apply for mortgages that give the lowest interest rates.

Date: 2016-03-28
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2016-03-28

DOI: 10.17016/2380-7172.1718

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