Mortgage Market

The mortgage market is where individuals and families obtain loans to buy homes. Financial institutions, like banks or credit unions, provide these loans, called mortgages, which are paid back over time with interest. The market involves borrowing, lending, and the buying and selling of mortgage-related securities, which helps lenders manage risk and provide more funding. Interest rates fluctuate based on economic factors, affecting borrowing costs. Overall, the mortgage market is a crucial part of the economy, facilitating homeownership while balancing the needs of borrowers and lenders.