Comment Detail
Date: 03/06/23 First Name: Dayin Last Name: Zhang Email: dayin.zhang@wisc.edu Organization Type: other Organization: University of Wisconsin-Madison Comment
I am assistant professor of real estate at University of Wisconsin-Madison. I have a research paper that studies how Federal Home Loan Banks (FHLB) affect household access to credit through changing banks’ market structure. I find that the FHLB passes cheaper funding to the borrowers. More than that, it increases market competition by making small banks more competitive. This pro-competition effect, lowers the interest rate markup charged by the big banks, and further increases the mortgage rate passthrough.
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