mortgage-interest
UK[ˈmɔːɡɪdʒ ˈɪntrəst]US[ˈmɔːrɡɪdʒ ˈɪntrɛst]
n
The interest charged on a loan taken out to buy property, typically a house.
n
The cost of borrowing money for a mortgage, expressed as a percentage rate.
Morpheme Breakdown
mortgage
interest
mortgage
interest
Etymology
The compound term 'mortgage-interest' is a modern financial construct built from two historically rich words. 'Mortgage' originates from Old French legal language, where a 'mort gage' was a 'dead pledge,' implying the pledge (the property) would be dead or lost to the borrower if the loan was not repaid. 'Interest' stems from the Latin verb interesse, meaning 'to be between, to make a difference, to be of importance,' which evolved to signify compensation for the use of money or the difference a loan makes to the lender. Combined, the term precisely denotes the specific financial charge—the 'difference' or cost—attached to the 'dead pledge' property loan, illustrating how concrete historical concepts of obligation and compensation merge into contemporary economic terminology.
Analysis
Structure: mortgage + interest
mortgage: From Old French (literally 'dead pledge'), from mort (dead) + gage (pledge). In this compound, it functions as the specific type of loan.
interest: From Anglo-Norman/Latin interesse (to be important, to make a difference). In this compound, it functions as the specific financial charge or cost.
Examples
The rise in mortgage-interest rates has cooled the housing market.
They calculated the total cost of the loan, including principal and mortgage-interest.
A key factor in their budget is their monthly mortgage-interest payment.