centuries. A mortgage allowed a loan to be secured with land or other property, and the practice has been linked to the … transformation of the agrarian economy that paved the way for modern economic growth. Historians have viewed the mortgage both … variety of forms that the mortgage took, and show how an intricate balance was struck between the interests of the borrower …

We model mortgage refinancing as a bargaining game involving the borrowing household, the incumbent lender, and an … correlated with the number of local branches and negatively correlated with local mortgage market concentration. Moreover … mitigated if their current mortgage lender has a branch locally. …