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You're right, and I think that is because "mortgage" is misspelled as "mortagage", but there is 37,000 for discount mortgage. Since it's not spelled correctly Google won't show you anything unless the exact same thing is out there.
An exact search for "discount mortagage" returns 6 hits.
A search for "mortagage" alone does return 191,000 hits, so I think the word is misspelled quite a bit.
Google search volumn is 19,500 and Yahoo is 816 for "discount mortgage", so I think the domain has some value for type-in traffic.
I don't have a lot of experience with these types of domains, but I'd pay $50 for it just to see how well it would work.... is it for sale?
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