Structural Change in the Mortgage Market and the Propensity to Refinance

By Paul B. Bennett, Richard W. Peach, S. Peristiani. 2001

146 citations recorded by the source corpus.

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CREDIT, HOUSING COLLATERAL, AND CONSUMPTION: EVIDENCE FROM JAPAN, THE U.K., AND THE U.S. (2012, background): “16The costs of refinancing fixed interest rate U.S. mortgages fell in the 1990s, as shown by Bennett et al. (2001) and discussed by Green and Wachter (2007).”
Failure to Refinance (2016, unknown): “Broadly, our paper contributes to a growing body of literature that shows important financial household mistakes, including mistakes associated with savings and investments ( Choi, Madrian, and Laibson, 2011; Madrian and Shea, 2001; Thaler and Benartzi, 2004 ), failure to smooth consumption ( Shapir”
How Has the Monetary Transmission Mechanism Evolved Over Time (2010, background): “…use mortgage refinancing to buffer their spending from income shocks (Hurst and Stafford, 2004) and that the propensity to refinance mortgages has increased as a result of structural changes in the mortgage market, such as the development of credit scoring (Bennett, Peach, and Peristiani, 2001).”
The Effect of Housing Wealth on College Choice: Evidence from the Housing Boom (2012, background): “This model identifies β2 using only within MSA-level variation in home price growth rates over time, using the fact that different age cohorts in 1997 experienced different short19This exclusion does not account for differences between equation (3) and equation (4) estimates.”