Bank of Canada paper on mortgage discount rates
A Bank of Canada paper published on Friday examines how discounts on mortgage lenders in Canada are dispersed among households.
Jason Allen, Robert Clark and Jean-François Houde, the paper's authors, use transaction-level data on Canadian mortgages to explain the increase in the average discounts and range of dispersion on Canadian loans. The standard explanation for the dispersion in credit markets is that lenders engage in risk-based pricing and negotiate lower rates based on household
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