On the Geographic Scope of Retail Mortgage Markets
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.
File(s): File format is text/html https://www.federalreserve.gov/econres/notes/feds-notes/on-the-geographic-scope-of-retail-mortgage-markets-20180615.htm
Part of Series: FEDS Notes
Publication Date: 2018-06-15