Mortgage Loan Market Segmentation and Lender Pricing Behavior
AbstractThis 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.
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Bibliographic InfoArticle provided by American Real Estate Society in its journal Journal of Real Estate Research.
Volume (Year): 3 (1988)
Issue (Month): 1 ()
Contact details of provider:
Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
Web page: http://www.aresnet.org/
Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
Find related papers by JEL classification:
- L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Robert O. Edmister & Harry E. Merriken, 1988. "Pricing Efficiency in the Mortgage Market," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 16(1), pages 50-62.
- Baltensperger, Ernst, 1980. "Alternative approaches to the theory of the banking firm," Journal of Monetary Economics, Elsevier, vol. 6(1), pages 1-37, January.
- Curley, Anthony J & Guttentag, Jack M, 1977. "Value and Yield Risk on Outstanding Insured Residential Mortgages," Journal of Finance, American Finance Association, vol. 32(2), pages 403-12, May.
- W.H.J. Hassink & M. van Leuvensteijn, 2003.
"Price-setting and Price Dispersion in the Dutch Mortgage Market,"
03-07, Utrecht School of Economics.
- Michiel van Leuvensteijn & Wolter Hassink, 2003. "Price-setting and price dispersion in the Dutch mortgage market," CPB Discussion Paper 21, CPB Netherlands Bureau for Economic Policy Analysis.
- Liu, Benjamin & Skully, Michael, 2005. "The determinants of mortgage yield spread differentials: Securitization," Journal of Multinational Financial Management, Elsevier, vol. 15(4-5), pages 314-333, October.
- Wolter Hassink & Michiel Leuvensteijn, 2007. "Measuring Transparency in the Dutch Mortgage Market," De Economist, Springer, vol. 155(1), pages 23-47, March.
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