Working Paper
Institutional Investors, Rents, and Neighborhood Change in the Single Family Residential Market
WP 24-13 – Institutional investors that buy and rent out single family homes have continued to increase their presence after the Great Recession.
Featured Work
Working Paper
Paying Too Much? Borrower Sophistication and Overpayment in the U.S. Mortgage Market
WP 24-11 – Comparing mortgage rates that borrowers obtain to rates that lenders could offer for the same loan, the authors find that many homeowners significantly overpay for their mortgage, with overpayment varying across borrower types and with market interest rates.
Article
When Mortgage Lock-In Locks Out Homebuyers
Economic Insights — Historically, housing sales decline when interest rates go up, but sales have dropped more than expected since the current cycle of interest rate hikes began in early 2022. Mortgage lock-in may explain why.
Working Paper
How Much Does Racial Bias Affect Mortgage Lending? Evidence from Human and Algorithmic Credit Decisions
WP 24-09 – We assess racial discrimination in mortgage approvals using confidential data on mortgage applications.
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