The purpose of this paper is to longitudinally test the propositions of the Electronic Market Hypothesis (EMH) within the context of the US home mortgage industry. The paper uses a deductive, positivist case study, through a systematic examination of “texts” in the trade press over three time periods: 1995-1999, 2000-2002, and 2003-2007. EMH propositions, while generally not found to be valid in the early years, were more consistent with evidence in the home mortgage industry in the later period. Throws fresh light on the debate between the appropriateness and the inappropriateness of the EMH as a core theory explaining the influence of Information Technology on market and industry structures. Designing of corporate strategies to foster efficient market mechanisms. Using a relatively uncommon (analysis of primary data from trade press articles) qualitative research methodology which could serve as a guideline for future research. This approach offers opportunities to use various trade press sources to perform studies on the effects of IT on people, such as analyzing how IT departments are adapting their governance practices as workers increasingly use personal computing devices to access organizational assets (e.g., networks, applications, and data). © 2013, Emerald Group Publishing Limited. All rights reserved.