| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w20401 |
| 来源ID | Working Paper 20401 |
| Failure to Refinance | |
| Benjamin J. Keys; Devin G. Pope; Jaren C. Pope | |
| 发表日期 | 2014-08-21 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | Households that fail to refinance their mortgage when interest rates decline can lose out on substantial savings. Based on a large random sample of outstanding U.S. mortgages in December of 2010, we estimate that approximately 20% of households for whom refinancing would be optimal and who appeared unconstrained to do so, had not taken advantage of the lower rates. We estimate the present-discounted cost to the median household who fails to refinance to be approximately $11,500, making this a particularly large consumer financial mistake. To shed light on possible mechanisms and corroborate our main findings, we also provide results from a mail campaign targeted at a sample of homeowners that could benefit from refinancing. |
| 主题 | Microeconomics ; Behavioral Economics ; Regional and Urban Economics ; Real Estate |
| URL | https://www.nber.org/papers/w20401 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/578075 |
| 推荐引用方式 GB/T 7714 | Benjamin J. Keys,Devin G. Pope,Jaren C. Pope. Failure to Refinance. 2014. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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