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
second mortgage
adjustable rate mortgage
├Źndice de tasa de interés
See All Related Terms »

average hourly earnings
Transaction Costs
scorched earth policy
interest equalization tax