mortgage

US /ˈmɔrɡɪdʒ/

・

UK /'mɔ:ɡɪdʒ/

B1TOEIC

n. (c./u.)Noun (Countable/Uncountable)Long-term loan from a bank for buying property

My parents paid off their mortgage in ten years and now they own their house

n. (c./u.)Noun (Countable/Uncountable)A legal agreement in which you borrow money in order to buy a house using the house as a guarantee

The bank holds a mortgage on the property.

v.t.Transitive VerbTo borrow money to buy a house, giving the lender the right to take ownership of the property if you cannot pay the debt

They had to mortgage their house to pay off debts.

Video subtitles

03:21

And what happened these last two years is that one: mortgage rates increased a lot.
And what happened these last two years is that one: mortgage rates increased a lot.
and they actually stayed high even as mortgage rates were increasing a lot, which was unexpected.
and they actually stayed high even as mortgage rates were increasing a lot, which was unexpected.

31:01

and if you give a mortgage that's not qualified, there are big penalties, except they didn't
and if you give a mortgage that's not qualified, there are big penalties, except they didn't
ever go on and define what a qualified mortgage was.
ever go on and define what a qualified mortgage was.

03:22

sake of simplicity let's assume that Alice can get the mortgage for 6% interest rate
sake of simplicity let's assume that Alice can get the mortgage for 6% interest rate
mortgage. Which means her monthly mortgage payment will include interest plus a small
mortgage. Which means her monthly mortgage payment will include interest plus a small

06:07

42:08

THAT NEW MORTGAGE LENDING RULES MAY MAKE IT HARDER FOR PEOPLE
THAT NEW MORTGAGE LENDING RULES MAY MAKE IT HARDER FOR PEOPLE

08:33

08:46

and the interest rate on your home mortgage is closer to zero.
and the interest rate on your home mortgage is closer to zero.

08:42

your expenses, so, your bills, your mortgage, your rent, your spending, your debt repayments, and so on.
your expenses, so, your bills, your mortgage, your rent, your spending, your debt repayments, and so on.

08:14

If you’ve got a variable-rate mortgage, where the interest rate that you pay...
If you’ve got a variable-rate mortgage, where the interest rate that you pay...

07:58