Tag: mortgage denial
Introduction As the U.S. population ages and lifespans increase, it is important to understand how aging affects an individual’s ability to access credit. Older homeowners tend to have more financial resources and better credit scores than their younger counterparts, so one would expect that they could borrow more easily. But is that true? This…
We have just published a brief on a really interesting paper by Natee Amornsiripanitch, a senior financial economist at the Philadelphia Fed, that explores the relationship between age and the probability of being denied a mortgage application. The paper uses Confidential Home Mortgage Disclosure Act data, which contain applicant and co-applicant age and a rich set of applicant, property, and…
