What is mortgage in economics?

Mortgages are a particular type of loan, useful for the purchase of a house. The loan is secured against the value of the house. Average house prices in the UK are close to £200,000. Average incomes are, by comparison, £23,000 a year. read more

Mortgages are a particular type of loan, useful for the purchase of a house. The loan is secured against the value of the house. Average house prices in the UK are close to £200,000. Average incomes are, by comparison, £23,000 a year. Clearly, the average worker would be unable to buy a house without the help of a mortgage. read more

A mortgage is a debt instrument, secured by the collateral of specified real estate property, that the borrower is obliged to pay back with a predetermined set of payments. Mortgages are used by individuals and businesses to make large real estate purchases without paying the entire value of the purchase up front. read more

A mortgage is a long-term loan that is secured by the value of the house. It charges a low interest with a 15 to 30 year term. It is designed to make home ownership more affordable. Types. The most popular type of mortgage is the conventional 30-year fixed-interest rate loan. read more