Mortgage interest rates worldwide varied greatly in 2024, from less than four percent in many European countries, to as high as 44 percent in Turkey. The average mortgage rate in a country depends on the central bank's base lending rate and macroeconomic indicators such as inflation and forecast economic growth. Since 2022, inflationary pressures have led to rapid increase in mortgage interest rates. Which are the leading mortgage markets? An easy way to estimate the importance of the mortgage sector in each country is by comparing household debt depth, or the ratio of the debt held by households compared to the county's GDP. In 2023, Switzerland, Australia, and Canada had some of the highest household debt to GDP ratios worldwide. While this indicator shows the size of the sector relative to the country’s economy, the value of mortgages outstanding allows to compare the market size in different countries. In Europe, for instance, the United Kingdom, Germany, and France were the largest mortgage markets by outstanding mortgage lending. Mortgage lending trends in the U.S. In the United States, new mortgage lending soared in 2021. This was largely due to the growth of new refinance loans that allow homeowners to renegotiate their mortgage terms and replace their existing loan with a more favorable one. Following the rise in interest rates, the mortgage market cooled, and refinance loans declined.

30 Year Mortgage Rate in the United States decreased to 6.85 percent in June 5 from 6.89 percent in the previous week. This dataset includes a chart with historical data for the United States 30 Year Mortgage Rate.

The weighted average interest rates of housing bank loans in Turkey fluctuated during the period from June 2015 to October 2024. As of October 2024, the average interest rate reached 41.3 percent. The highest average interest rate was seen in the last week of March 2024 and amounted to over 43.53 percent.

Fixed 30-year mortgage rates in the United States averaged 6.92 percent in the week ending May 30 of 2025. This dataset provides the latest reported value for - United States MBA 30-Yr Mortgage Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

As of November 2024, the average owner-occupier home loan interest rate was the highest in the Australian state of Western Australia, with an average rate of around 6.36 percent. In comparison, the average mortgage interest rate in Victoria was at around 6.26 percent.

Graph and download economic data for 15-Year Fixed Rate Mortgage Average in the United States (MORTGAGE15US) from 1991-08-30 to 2025-06-05 about 15-year, fixed, mortgage, interest rate, interest, rate, and USA.

Graph and download economic data for 30-Year Fixed Rate Veterans Affairs Mortgage Index (OBMMIVA30YF) from 2017-01-03 to 2025-06-05 about veterans, 30-year, fixed, mortgage, rate, indexes, and USA.

Interactive historical chart showing the 30 year fixed rate mortgage average in the United States since 1971.

As of June 2025, the maximum interest rate for 21 to 35-year fixed-rate Flat 35 housing loans with a loan-to-value ratio of 90 percent or less in Japan stood at 4.01 percent. This represented an increase compared to 3.57 percent in December 2024.

In the United States, interest rates for all mortgage types started to increase in 2021. This was due to the Federal Reserve introducing a series of hikes in the federal funds rate to contain the rising inflation. In the fourth quarter of 2024, the 30-year fixed rate rose slightly, to 6.63 percent. Despite the increase, the rate remained below the peak of 7.33 percent in the same quarter a year ago. Why have U.S. home sales decreased? Cheaper mortgages normally encourage consumers to buy homes, while higher borrowing costs have the opposite effect. As interest rates increased in 2022, the number of existing homes sold plummeted. Soaring house prices over the past 10 years have further affected housing affordability. Between 2013 and 2023, the median price of an existing single-family home risen by about 88 percent. On the other hand, the median weekly earnings have risen much slower. Comparing mortgage terms and rates Between 2008 and 2023, the average rate on a 15-year fixed-rate mortgage in the United States stood between 2.28 and 6.11 percent. Over the same period, a 30-year mortgage term averaged a fixed-rate of between 3.08 and 6.81 percent. Rates on 15-year loan terms are lower to encourage a quicker repayment, which helps to improve a homeowner’s equity.

Graph and download economic data for 30-Year Fixed Rate Conforming Non-Adjusted Mortgage Index (OBMMIC30YFNA) from 2017-01-03 to 2025-06-06 about 30-year, fixed, mortgage, rate, indexes, and USA.

The mortgage credit interest rate is the average interest rate on mortgage loan products offered to individuals and households by the commercial banks in the country. The mortgage credit is a loan used to finance the purchase of real estate. The table shows the latest available data from the national authorities as well as the values from three months ago and one year ago. The data are updated continuously.

Mortgage credit interest rate, percent in Turkey, March, 2025 The most recent value is 38.79 percent as of March 2025, a decline compared to the previous value of 39.86 percent. Historically, the average for Turkey from January 2002 to March 2025 is 20.17 percent. The minimum of 8.3 percent was recorded in June 2013, while the maximum of 58.45 percent was reached in January 2002. | TheGlobalEconomy.com

Graph and download economic data for 30-Year Fixed Rate Jumbo Mortgage Index (OBMMIJUMBO30YF) from 2017-01-03 to 2025-06-05 about jumbo, 30-year, fixed, mortgage, rate, indexes, and USA.

Mortgage credit interest rate, percent in Austria, March, 2025 The most recent value is 3.42 percent as of March 2025, a decline compared to the previous value of 3.45 percent. Historically, the average for Austria from December 1995 to March 2025 is 3.62 percent. The minimum of 1.18 percent was recorded in February 2021, while the maximum of 7.19 percent was reached in December 1995. | TheGlobalEconomy.com

Mortgage credit interest rate, percent in Costa Rica, March, 2025 The most recent value is 7.61 percent as of March 2025, a decline compared to the previous value of 7.69 percent. Historically, the average for Costa Rica from December 2001 to March 2025 is 13.66 percent. The minimum of 6.11 percent was recorded in May 2022, while the maximum of 26.28 percent was reached in August 2002. | TheGlobalEconomy.com

Mortgage interest rates in Europe soared in 2022 and remained elevated in the following two years. In many countries, this resulted in interest rates more than doubling. In the UK, the average mortgage interest rate rose from **** percent in 2020 to **** percent in 2023, before falling to **** in 2024. 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 allows mortgage lenders to reduce mortgage interest rates. What is the impact of interest rates on home buying? 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.

Mortgage credit interest rate, percent in Brazil, March, 2025 The most recent value is 10.91 percent as of March 2025, an increase compared to the previous value of 9.98 percent. Historically, the average for Brazil from March 2011 to March 2025 is 9.01 percent. The minimum of 6.63 percent was recorded in May 2021, while the maximum of 11.41 percent was reached in July 2023. | TheGlobalEconomy.com

Prospective American homebuyers expected that mortgage rates would decline, according to a nationally representative survey conducted in August 2024. The youngest generation (18 to 34-year-olds) was the only age group that still expected a rise in interest rates in the next 12 months. People aged 45 to 64 were most optimistic, with the share of respondents expecting a decrease outweighing the share expecting a hike by 27 percent.

The Brazilian home loan market exhibits robust growth potential, projected to reach a substantial size by 2033. The market's 11.20% CAGR from 2019-2024 signifies strong investor confidence and sustained demand. Key drivers include a growing middle class with increasing disposable incomes, government initiatives aimed at boosting homeownership, and a gradual improvement in the overall economic climate. While rising interest rates present a potential restraint, the diverse range of lenders—including major banks like Itaú Unibanco, Banco Bradesco, and Caixa Econômica Federal, along with fintech disruptors like Nubank and Creditas—contributes to market dynamism and accessibility. The market is segmented by lender type (banks, housing finance companies), interest rate type (fixed, floating), and loan tenure (categorized into specific year ranges). The substantial number of players underscores the competitiveness and evolving landscape, offering various loan options catering to different customer profiles and risk tolerances. The continued expansion of digital lending platforms enhances accessibility and efficiency, shaping the future trajectory of the market. The forecast period (2025-2033) anticipates continued expansion, driven by sustained economic growth and further penetration of digital lending technologies. However, macroeconomic factors like inflation and potential shifts in government policies will influence the market's growth trajectory. The segmentation by loan tenure suggests a significant proportion of loans are likely long-term, reflecting the long-term commitment associated with homeownership. The competition among established players and fintech entrants will likely drive innovation in product offerings and customer service, benefiting borrowers through more competitive rates and flexible loan terms. Analyzing regional variations within Brazil could further refine the market understanding and identify opportunities for targeted investments. The ongoing expansion of the middle class, combined with supportive government policies, positions the Brazilian home loan market for continued substantial growth over the forecast period. This report provides a detailed analysis of the Brazil home loan market, covering the period 2019-2033. It delves into market size, segmentation, growth drivers, challenges, and key players, offering invaluable insights for investors, lenders, and industry stakeholders. With a base year of 2025 and an estimated year of 2025, the forecast period spans from 2025 to 2033, building upon historical data from 2019-2024. The report also examines the impact of recent mergers and acquisitions (M&A) activity, regulatory changes, and emerging trends shaping the future of Brazilian mortgages. Expect in-depth analysis of mortgage rates, loan tenures, and the role of banks and housing finance companies (HFCs). This report is crucial for understanding the dynamic landscape of the Brazilian real estate financing sector. Recent developments include: August 2022: Brazilian lender Banco Bradesco SA subsidiary Bradescard has agreed to acquire Mexico's Ictineo Plataforma SA in a bid to offer digital accounts in Latin America's second-largest economy. Bradesco said the acquisition will allow the bank to enter the banking retail area, offering digital accounts, payroll loans, and investment accounts., April 2022: Brazilian banking group Itaú Unibanco has acquired a 12.82% stake in Rede Agro Fidelidade e Intermediação S.A. (Orbia) to expand its operations. The deal is aimed at expanding Itaú Unibanco's footprint by giving it access to Orbia's customer base and allowing the bank to offer them easy access to credit.. Key drivers for this market are: Economic Growth, Increased Mortgage Options. Potential restraints include: Economic Growth, Increased Mortgage Options. Notable trends are: Increase in High End Property Sales.