PMI Meaning in the Cambridge English Dictionary
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Meaning of “PMI” in the English Dictionary

"PMI" in Business English

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PMInoun

uk   us  
[U] INSURANCE abbreviation for Private Medical Insurance: ​medicalinsurance that you ​pay to use, rather than using the ​publichealthsystem: PMI ​means that if you suffer an ​acute illness you can get ​treatment at a ​time and ​place that ​suit you.
[S] ECONOMICS abbreviation for Purchasing Managers' index
[U] INSURANCE US abbreviation for Private Mortgage Insurance: a ​type of ​insurance in the US that is ​paid by someone ​borrowingmoney to ​buy a ​house. The ​insuranceprotects the lender against a ​fall in the ​value of the ​house if the ​borrower cannot ​pay back the ​loan: A $500,000 ​mortgage may come with a monthly PMI ​bill of $250.
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(Definition of PMI from the Cambridge Business English Dictionary © Cambridge University Press)
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