Discussion Paper
The Rise in Mortgage Fees: Evidence from HMDA Data
DP 24-01 – New Home Mortgage Disclosure Act data fields shed light on borrower closing costs, which rose significantly in 2022–2023.
Featured Work
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.
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.
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