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mortgage
(redirected from Morgage)

    Also found in: Medical, Legal, Encyclopedia, Wikipedia, Hutchinson 0.04 sec.
Mortgage
A loan secured by the collateral of some specified real estate property that the borrower is obliged to pay back with predetermined set of payments.

Notes:
The difference between mortgage rates and GIC rates is the profit that the bank makes. If mortgage rates are at 8% and GICs are paying 5% the bank makes 3%.

Mortgage
A loan secured by the collateral of some specified real estate property which obliges the borrower to make a predetermined series of payments.
mortgage
A pledge of specific property as security for a loan. See also first mortgage, reverse annuity mortgage, second mortgage.
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