A loan the collateral for which is a house or other real estate. I would not have thought this term needed to appear in a glossary of international economics, until 2008 when we learned that mortgage-backed securities had been traded internationally and were contributing to the global Financial crisis when borrowers defaulted.
Browse by Subjects
Variable interest rate
See All Related Terms »
American Psychological Association (APA):
Chicago Manual of Style (CMS):
Modern Language Association (MLA):