Working Paper
Recurring-Payment Sensitivity in Household Borrowing
WP 25-22 – This paper provides evidence of payment sensitivity in household borrowing decisions: Mortgage borrowers respond to the size of the recurring payment as opposed to discounted total loan costs when choosing between loan options.
Featured Work
Article
Data in Focus: Mortgage Fairness Explorer
Economic Insights — Fairness is something we all aspire to but struggle to define. When is something fair? This isn’t just an esoteric philosophical question. In the field of mortgage financing, it’s a matter of law.
Conference Summary
Workshop on Changing Demographics and Housing Demand
On October 24 and 25, 2024, the Federal Reserve Bank of Philadelphia’s Consumer Finance Institute (CFI) and Fannie Mae’s Economic and Strategic Research Group (ESR) cohosted a hybrid conference on the topic of changing U.S. population demographics and their influence on housing demand and housing finance.
Working Paper
How Resilient Is Mortgage Credit Supply? Evidence from the COVID-19 Pandemic
WP 21-20/R – Lower interest rates in 2020–2021 were not fully passed through to mortgage borrowers due to a sharp rise in intermediation markups. These higher markups reflect capacity constraints amplified by operational and labor market frictions.
Featured Data
Advancing Fairness in Lending Through Machine Learning
Showcasing the work of Philadelphia Fed researchers, this interactive data visualization explores an approach to credit lending using machine learning and fairness goals that may help address current disparities in credit access.
Updated: 05 Feb ’24