The mortgage prevalence among homeowners in Europe varied widely across different countries in 2023. About 79 percent of the total population in Norway was a homeowner, with 60 percent paying out a mortgage loan. Conversely, only one percent of households in Romania had a mortgage, with nearly 96 percent being homeowners. Meanwhile, an average of 25 percent of the total population within the EU-27 was an owner-occupant with a mortgage or housing loan. Homeownership depends on multiple factors, such as housing policy, the macroeconomic situation, the state of the housing sector, and the availability of finance. Countries with more developed mortgage markets tend to have lower mortgage interest rates.

Mortgage interest rates in Europe soared in 2022 and remained elevated in 2023. In many countries, this resulted in interest rates more than doubling. In Denmark, the average mortgage interest rate rose from 0.67 percent in 2021 to 4.98 percent in 2023. Why did mortgage interest rates increase? Mortgage rates have risen as a result of the European Central Bank (ECB) interest rate increase. The ECB increased its interest rates to tackle inflation. As inflation calms, the ECB is expected to cut rates, which will allow mortgage lenders to reduce mortgage interest rates. What is the impact of interest rates on homebuying? Lower interest rates make taking out a housing loan more affordable, and thus, encourage homebuying. That can be seen in many countries across Europe: In France, the number of residential properties sold rose in the years leading up to 2021, and fell as interest rates increased. The number of houses sold in the UK followed a similar trend.

The United Kingdom, Germany, and France were the countries with the largest mortgage markets in Europe in 2024, when considering the value of loans outstanding. In the second quarter of the year, the UK had more than 1.9 billion euros worth of mortgages outstanding. Other countries with large mortgage markets included the Netherlands, Spain, Sweden, and Italy - all exceeding 400 billion euros. One of the main drivers of mortgage activity is the cost of borrowing. In 2022, interest rates increased dramatically across Europe. Ireland, and Germany remained among the few countries with an average interest rate under four percent.

The share of people with rent or mortgage payments overdue varied widely across European countries in 2023. In Turkey and Greece, the share of people with late payments exceeded 8.5 percent. In many Eastern European countries, such as Bulgaria and Romania, this share was relatively low, mostly due to the high percentage of homeownership without an outstanding mortgage loan.

In 2024, Turkey, Iceland, Portugal, and Hungary had the highest house price to rent ratio index in Europe. The four countries ranked the highest, with house price to rent indices exceeding 160 index points. The house price to rent ratio is an indicator of the affordability of owning housing over renting across European countries, with 2015 used as a base year. The higher the ratio, the more the gap between house prices and rental rates has widened since 2015 when the index amounted to 100. In terms of house price to income ratio, the top three countries were Portugal, Luxembourg, and Hungary Homeownership in Europe Homeownership varies widely across European countries. In some, such as Austria, Germany and Switzerland, homeownership is relatively low with less than two thirds of people occupying a dwelling owned by a member of the household. In other countries (Iceland, the Netherlands, Norway, and Sweden) more than half of people were owner-occupiers with a mortgage. A third group of countries with a high homeownership rate without a housing loan includes many Eastern and South European countries, among which were Serbia, Romania, North Macedonia, Italy, and Bulgaria. Dwellings as a non-financial asset Dwellings, along with structures, land, and intellectual property, are classed as non-financial assets and form an important part of household wealth. Through sale, refinancing or renting, they can serve as an additional source of income. In 2022, France, Germany, and Norway were the European countries with the highest value of dwellings per capita as a non-financial asset with values between 83,000 and 91,000 euros per capita.

This dataset provides values for 30 YEAR MORTGAGE RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

This dataset provides values for MORTGAGE RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

The global mortgage loan service market is experiencing robust growth, driven by factors such as increasing urbanization, rising disposable incomes, and favorable government policies supporting homeownership. The market size in 2025 is estimated at $2 trillion, exhibiting a Compound Annual Growth Rate (CAGR) of 7% from 2025 to 2033. This positive trajectory is fueled by the expansion of the middle class globally, particularly in emerging economies, leading to a greater demand for housing finance. The market is segmented by loan type (residential and commercial estate) and application (individual and enterprise). The residential segment currently dominates, but the commercial estate segment is witnessing significant growth, propelled by investments in real estate development and infrastructure projects. Technological advancements, such as the rise of fintech and online mortgage platforms, are streamlining the loan application and approval processes, enhancing customer experience and driving market efficiency. However, fluctuating interest rates, stringent regulatory compliance requirements, and economic downturns represent key restraints. The competitive landscape is highly fragmented, with a mix of large established banks (Chase, PNC Bank, Truist) and specialized mortgage lenders (Rocket Mortgage, United Shore Financial Services, LoanDepot) vying for market share. The continued growth of the mortgage loan service market hinges on macroeconomic stability, consistent consumer confidence, and innovative solutions addressing evolving borrower needs. Increased adoption of digital technologies, including AI-powered credit scoring and personalized loan offerings, will further shape the industry. Geographic expansion into underserved markets and the development of sustainable mortgage solutions are also key factors influencing future market dynamics. Regional variations exist, with North America and Europe currently holding the largest market share due to their well-established financial infrastructure and higher homeownership rates. However, rapid growth is anticipated in Asia-Pacific, driven by burgeoning economies and increased urbanization in countries like India and China. Successful players will need to adapt to changing regulatory landscapes, adopt robust risk management strategies, and leverage technological advancements to maintain a competitive edge.

European NPISHs and Households Loans for House Purchasing by Country, 2023 Discover more data with ReportLinker!

Key information about European Union Household Debt: % of GDP

• European Union household debt accounted for 44.1 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 44.4 % in the previous quarter.
• EU household debt to GDP ratio is updated quarterly, available from Sep 1997 to Dec 2024.
• The data reached an all-time high of 54.2 % in Jun 2010 and a record low of 38.9 % in Sep 1997.

• In the latest reports, EU Household Debt reached 6,956.2 USD bn in Jan 2025.
• Money Supply M2 in EU increased 3.3 % YoY in Jan 2025.
• EU Foreign Exchange Reserves was measured at 297.5 USD bn in Jan 2025.
• The Foreign Exchange Reserves equaled 1.4 Months of Import in Dec 2024.
• EU Domestic Credit reached 25,135.4 USD bn in Dec 2024, representing an increased of 2.7 % YoY.

The ECRI Statistical Package on Lending to Households in Europe is a collection of data on lending to non-financial corporations and households, including consumer credit, housing and other loans, in Europe, covering 40 countries: the 28 EU member states, three EU candidate countries (Croatia, Turkey and the Former Yugoslav Republic of Macedonia), the EFTA countries (Iceland, Liechtenstein, Norway and Switzerland), four additional key global economies (the United States, Australia, Canada and Japan) and, for the first time, two emerging economies (India and Russia). Its purpose is to provide reliable statistical information allowing users to make meaningful comparisons between these countries. Accordingly, definitions of concepts and aggregates from national authorities are provided. The package contains nominal and real data on major time series such as outstanding consumer credit, loans for house purchase, loans to non-financial corporations and annual final consumption expenditures of households. Data are presented in euro and in national currency. In addition, ratios of household indebtedness are calculated and illustrated by graphs. It also includes breakdowns of the various credit statistics by maturity and currency. For some countries, tables presenting the composition of consumer credit stocks by lender and by instrument are also available. For more info on ECRI and a more detailed description of the ECRI Statistical Package series see the ECRI website:ECRI website.

European Households Loans for House Purchasing Share by Country (Million Euros), 2023 Discover more data with ReportLinker!

This dataset provides values for INTEREST RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

The average mortgage interest rate decreased in nearly every country in Europe between 2012 and 2021, followed by an increase in response to inflation. In Hungary, Poland, Czechia, and Romania, mortgage rates peaked in late 2022 and the beginning of 2023, followed by a gradual decline until the first quarter of 2024. The rest of the countries under observation, including the biggest mortgage markets - the UK and Germany, saw a continued increase in interest rates until the fourth quarter of 2023. In the first quarter of 2024, mortgage interest rates declined quarter-on-quarter across almost all markets in focus, marking a long awaited easing of monetary policy.

Key information about European Union Household Debt

• European Union Household Debt reached 6,956.2 USD bn in Jan 2025, compared with the reported number of 6,921.4 USD bn in the previous month
• EU Household Debt: USD mn data is updated monthly, available from Jan 1999 to Jan 2025
• The data reached an all-time high of 7,744.8 USD bn in Apr 2011 and a record low of 2,500.5 USD bn in Oct 2000

• In the latest reports, European Union Household Debt accounted for 44.1 % of the country's Nominal GDP in Dec 2024
• Money Supply M2 in European Union increased 16,206.2 USD bn YoY in Jan 2025
• European Union Foreign Exchange Reserves was measured at 297.5 USD bn in Jan 2025
• The Foreign Exchange Reserves equaled 1.4 Months of Import in Dec 2024
• European Union Domestic Credit reached 25,343.8 USD bn in Nov 2024, representing an increased of 0.7 % YoY

European NPISHs and Households Loans for House Purchasing Share by Country (Million Euros), 2023 Discover more data with ReportLinker!

The rate of home owners with a mortgage or loan in Germany fluctuated between 2010 and 2021. It can be seen that 28 percent of German households had a mortgage in 2021. This was an decrease from the previous year, when 31 percent of households had a mortgage loan.

European Union EA: Credit Terms and Conditions-Consumer Credit-NPL Ratio-Household: WA of NA Responses: FL data was reported at 0.000 % in Mar 2025. This records a decrease from the previous number of 1.944 % for Sep 2024. European Union EA: Credit Terms and Conditions-Consumer Credit-NPL Ratio-Household: WA of NA Responses: FL data is updated quarterly, averaging 1.882 % from Sep 2018 (Median) to Mar 2025, with 14 observations. The data reached an all-time high of 8.399 % in Mar 2023 and a record low of 0.000 % in Mar 2025. European Union EA: Credit Terms and Conditions-Consumer Credit-NPL Ratio-Household: WA of NA Responses: FL data remains active status in CEIC and is reported by European Central Bank. The data is categorized under Global Database’s European Union – Table EU.KB022: European Central Bank: Bank Lending Survey: Non-Performing Loans Ratio: by Household.

European Union EA: Credit Standards-Consumer Credit-NPL Ratio-Household: WA of 2 Responses: FL data was reported at 11.712 % in Mar 2025. This records an increase from the previous number of 1.056 % for Sep 2024. European Union EA: Credit Standards-Consumer Credit-NPL Ratio-Household: WA of 2 Responses: FL data is updated quarterly, averaging 3.562 % from Sep 2018 (Median) to Mar 2025, with 14 observations. The data reached an all-time high of 22.198 % in Sep 2020 and a record low of 1.056 % in Sep 2024. European Union EA: Credit Standards-Consumer Credit-NPL Ratio-Household: WA of 2 Responses: FL data remains active status in CEIC and is reported by European Central Bank. The data is categorized under Global Database’s European Union – Table EU.KB022: European Central Bank: Bank Lending Survey: Non-Performing Loans Ratio: by Household.

The global Home Equity Lending market is a substantial sector, currently valued at $179.02 billion in 2025 and projected to experience steady growth with a Compound Annual Growth Rate (CAGR) of 4.6% from 2025 to 2033. This growth is driven by several key factors. Increasing homeownership rates, particularly in emerging economies, fuels demand for home equity loans as homeowners seek access to their accumulated home equity for various purposes, including home improvements, debt consolidation, and funding education or other significant expenses. Favorable interest rates, when available, further incentivize borrowing. The market's segmentation reflects diverse lending channels and institutions. Commercial banks and mortgage/credit unions are major players, while online platforms are steadily gaining traction, offering convenience and competitive rates. Regional variations exist; North America, particularly the U.S., is anticipated to maintain a significant market share due to established homeownership culture and robust financial infrastructure. However, growth in APAC and other regions is projected to increase as economies develop and homeownership expands. Despite its robust growth trajectory, the market faces certain challenges. Economic downturns and fluctuations in interest rates can directly impact borrowing activity and loan defaults. Stricter lending regulations and increased scrutiny of borrower creditworthiness can also constrain market expansion. Competition among various financial institutions remains intense, prompting providers to offer attractive loan terms and innovative products to retain and acquire customers. The evolving technological landscape presents both opportunities and risks, requiring lenders to adopt digital solutions for efficient loan processing and customer service while ensuring robust cybersecurity measures. Navigating these dynamics will be crucial for players aiming to succeed in this competitive market.