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With 30-year fixed rates hitting a 20-year high of 7%, a finance scholar explains where these life-altering loans originated.
A brief history of the mortgage, from its roots in ancient Rome to its rebirth in America
The backstory of what is now arguably the most widely-used form of lending in principal terms, the mortgage.
The roots of these legal contracts, in which land is pledged for a debt and will become the property of the lender if the loan is not repaid, go back thousands of years.
With 30-year fixed rates hitting a 20-year high of 7%, a finance scholar explains where these life-altering loans originated.