Why Do Borrowers Make Mortgage Refinancing Mistakes?

Refinancing a mortgage is often one of the most important financial decisions people make. Borrowers choose the interest rate differential at which to refinance, and when that differential is reached, they need to take the steps to refinance before rates change again. Using a simple closed-form solu...

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Veröffentlicht in:	Management science 2016-12, Vol.62 (12), p.3494-3509
Hauptverfasser:	Agarwal, Sumit, Rosen, Richard J., Yao, Vincent
Format:	Artikel
Sprache:	eng
Schlagworte:	Analysis Approximation Decision making Errors financial crisis household finance Interest rates Mortgages option value Panel data Personal income refinance Refinancing
Online-Zugang:	Volltext
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