Where do borrowers and mortgage originators meet to negotiate mortgage terms?

The primary mortgage market is where borrowers and mortgage originators come together to negotiate the terms of mortgages. In this market, lenders provide loans directly to borrowers who are looking to finance the purchase of real estate. Here, various mortgage products, interest rates, and terms can be discussed and customized based on the borrower's financial situation and needs.

By contrast, the secondary mortgage market deals with the buying and selling of existing mortgage loans and securities backed by those loans, which does not involve direct negotiation of mortgage terms by borrowers and originators. The real estate market is primarily focused on the buying and selling of properties, rather than the financing aspect, while the investment market generally refers to broader activities related to various types of investments, not specifically tied to mortgage origination. Therefore, the primary mortgage market is the correct context for the negotiation of mortgage terms.