Concentration in Mortgage Lending, Refinancing Activity and Mortgage Rates
---- Acknowledgements -----
We are grateful to Zahi Ben-David, Scott Frame, Andreas Fuster, Ed Golding, David Lucca , Amit Seru, Jeremy Stein, Amir Sufi, and seminar participants at the Federal Reserve Bank of New York, Harvard University, the NBER Corporate Finance Spring Meetings, and the UCLA/FRB - San Francisco Conference on Ho using and the Macroeconomy for helpful comments and suggestions. We thank Freddie Mac for data and Toomas Laarits for excellent research assistance. We also thank the Harvard Business School Division of Research for financial support. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.