The study looked at how changes in mortgage interest rates affect how much people borrow for mortgages in the Netherlands. They used a unique method called bunching analysis to estimate this relationship. The results showed that for every 1% increase in interest rates, mortgage demand decreased by 3.5%. Different banks had varying impacts, with some seeing a decrease in demand of 1.1% to 7.5%. These findings can help understand how changes in interest rates and mortgage policies affect the amount and type of mortgage debt in the country.