Business, 25.03.2021 18:30 milagrosee12

An article in a Federal Reserve publication observes that "20 or 30 years ago, local financial institutions were the only option for some borrowers. Today, borrowers have access to national (and even international) sources of mortgage finance." Source: Daniel J. McDonald and Daniel L. Thornton, "A Primer on the Mortgage Market and Mortgage Finance," Federal Reserve Bank of St. Louis Review, January/February 2008. What caused this change in the sources of mortgage finance? What would be the likely consequence of this change for the interest rates borrowers have to pay on mortgages? The primary reason for this change in the sources of mortgage finance was ; the consequence of this change was also in mortgage rates.

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An article in a Federal Reserve publication observes that "20 or 30 years ago, local financial ins...