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.
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pay off
prepayment penalty
mortgage famine
Federal Home Loan Mortgage Corporation (Freddie Mac)
Federal Housing Administration (FHA)
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activity based management
debt obligations
weak dollar