Mortgage Loan Market Segmentation and Lender Pricing Behavior

Harry E. Merriken
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Harry E. Merriken: Sellinger School of Business and Management Loyola College Baltimore, Maryland 21210, http://sellinger.loyola.edu/

Journal of Real Estate Research, 1988, vol. 3, issue 1, 9-18

Abstract: This study examines the ability of financial institutions to vary rates of return on mortgages by segmenting mortgage loan markets. The research indicates that product differentials do exist among financial institutions. These differences seem to be attributable to instrument-specific characteristics which result from varying levels of intermediation services and exit barriers resulting from lingering regulatory distinctions. Pricing differences as a result of product differences are significant between mortgage bankers and depository institutions which suggests that borrowers are willing to pay a premium for loans offered by banks and thrifts.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 1988
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Citations: View citations in EconPapers (5)

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