Definition: The term "mortgage" refers to a financial institution providing loans to individuals or businesses for the purchase of property, such as a home or business. The term "10-year Treasury" typically describes a specific type of mortgage loan offered by banks and other financial institutions that are usually 10 years in duration. In summary: - Mortgage: A financial instrument provided by a bank or other financial institution to a borrower for the purchase of property such as a home or business. - 10-year Treasury: The term used to describe specific types of mortgage loans offered by banks and other financial institutions that are usually 10 years in duration.