Mortgages

Mortgages refer to loans secured by real estate property, typically used by purchasers to buy homes. The borrower agrees to repay the loan with a predetermined set of payments. The interest rate, length of the loan, and other terms can vary. Mortgages are the most common method of financing home purchases. Various types of mortgages exist, including fixed-rate, adjustable-rate, government-insured, and conventional loans.

Mortgages are integral to the discussion of homeownership, touching on broader issues of financial security, economic policy, and the role of government in regulating and supporting the housing market. The mortgage industry plays a significant role in the nation's economy. The health of the mortgage market can influence broader economic indicators, including employment in sectors related to housing and construction.