The etymology and historical evolution of mortgages, from ancient collateral practices through to modern Canadian mortgage systems, including key regulatory developments and fundamental mortgage terminology.

• The word "mortgage" derives from Old French meaning "dead pledge", with collateral-based lending traced back to the fifth century B.C.and formalized through Roman law 
• Major transformations included CMHC's creation in 1945, the 1954 Bank Act enabling bank mortgages, and the 1970s establishment of the five-year fixed-rate standard, with recent stress tests implemented in 2018.
• Key terms include mortgage term (contract duration, typically 5 years), amortization (total repayment time, usually 25 years), and the distinction between fixed and variable rates, plus different mortgage types like conventional (20%+ down)and high-ratio (under 20% down).

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