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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...
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