Mortgage refinancing and the concentration of mortgage coupons

Paul Bennett, Frank M. Keane and Patricia C. Mosser

Current Issues in Economics and Finance, 1999, vol. 5, issue Mar

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: Interest rates; Housing - Finance; Mortgages (search for similar items in EconPapers)
Date: 1999
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