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Why is it so hard for entrepreneurs to get mortgages? Why did the address I send my payment to change? Why don’t most banks own mortgages anymore? Why is there a thriving economy of small specialist lenders locally who only do mortgages? Why is a 30-year fixed rate mortgage available at all?
Mortgages are popularly thought of as loans, but to understand the industry, it's better to model them as complex manufactured products.
We are not affiliated with Patrick McKenzie. This unofficial audio edition is available to listen to and share for free. Read the original on Bits about Money.
Duration
~17 minutes (16K characters)
Release date
Jan 14, 2022