The mortgage market is a financial system where individuals can borrow money to purchase homes. Lenders, such as banks and credit unions, provide loans to buyers, who then repay the borrowed amount over time, usually with interest. Mortgages are typically secured by the property itself, meaning if the borrower fails to make payments, the lender can take possession of the home. In the mortgage market, various types of loans exist, including fixed-rate and adjustable-rate mortgages. The market is influenced by factors like interest rates, economic conditions, and government policies. Organizations like the Federal Housing Administration (FHA) help make homeownership more accessible by insuring loans for qualified buyers.