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Jumbo rates are below conforming rates: When did this happen and why?

Author

Listed:
  • Stephen D. Oliner

    (American Enterprise Institute)

  • Tobias Peter

    (American Enterprise Institute)

  • Lynn M. Fisher

    (American Enterprise Institute)

  • Mike Fratantoni

    (American Enterprise Institute)

Abstract

The authors find that the shift reflects a combination of increased bank demand for jumbo loans and higher government-sponsored enterprise g-fees.

Suggested Citation

  • Stephen D. Oliner & Tobias Peter & Lynn M. Fisher & Mike Fratantoni, 2019. "Jumbo rates are below conforming rates: When did this happen and why?," AEI Economics Working Papers 1025444, American Enterprise Institute.
    • Handle: RePEc:aei:rpaper:1025444
    as

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    File URL: http://www.aei.org/publication/jumbo-rates-rates-causes-implications
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    References listed on IDEAS

    as
    1. Stephen Matteo Miller, 2018. "The recourse rule, regulatory arbitrage, and the financial crisis," Journal of Regulatory Economics, Springer, vol. 54(2), pages 195-217, October.
    2. Alex Kaufman, 2014. "The Influence of Fannie and Freddie on Mortgage Loan Terms," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 42(2), pages 472-496, June.
    3. Marco Di Maggio & Amir Kermani & Christopher J Palmer, 2020. "How Quantitative Easing Works: Evidence on the Refinancing Channel," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 87(3), pages 1498-1528.
    4. Elena Loutskina & Philip E. Strahan, 2009. "Securitization and the Declining Impact of Bank Finance on Loan Supply: Evidence from Mortgage Originations," Journal of Finance, American Finance Association, vol. 64(2), pages 861-889, April.
    5. Andreas Fuster & James Vickery, 2015. "Securitization and the Fixed-Rate Mortgage," The Review of Financial Studies, Society for Financial Studies, vol. 28(1), pages 176-211.
    6. Brent W. Ambrose & Michael LaCour‐Little & Anthony B. Sanders, 2004. "The Effect of Conforming Loan Status on Mortgage Yield Spreads: A Loan Level Analysis," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 32(4), pages 541-569, December.
    7. Wayne Passmore & Shane M. Sherlund & Gillian Burgess, 2005. "The Effect of Housing Government-Sponsored Enterprises on Mortgage Rates," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 33(3), pages 427-463, September.
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    More about this item

    Keywords

    GSEs (Fannie Mae and Freddie Mac); Housing Center: Research; economics;
    All these keywords.

    JEL classification:

    • A - General Economics and Teaching

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