Mortgage interest rates worldwide varied greatly in 2024, from less than **** percent in many European countries, to as high as ** 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.

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.

Finances are an important part of life. When looking at the people with mortgage in selected countries worldwide, Norway and the Netherlands lead the ranking. ** percent of consumers from Norway as well as ** percent from the Netherlands are part of this category. Statista Consumer Insights offer you all results of our exclusive Statista surveys, based on more than ********* interviews.

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 table shows the level of mortgage credit extended by banks around the world including the most recent value and recent changes. This is the level of outstanding housing credit at a given point in time. The numbers are in billion local currency units and are updated right after the new data are released by the national authorities. Mortgage credit is by far the main component of household credit which also includes consumer credit. In many countries it exceeds the level of business credit. Greater access to mortgage credit makes it easier for households to buy real estate which is very beneficial but it does not contribute to long-term economic growth. In fact, if its growth is excessive it could lead to banking crises.

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.

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 fourth quarter of the year, the UK had nearly *** billion euros worth of mortgages outstanding. Other countries with large mortgage markets included the Netherlands, Spain, Sweden, and Italy - all exceeding *** 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 mortgage prevalence among homeowners in Europe varied widely across different countries in 2023. About ** percent of the total population in Norway was a homeowner, with ** percent paying out a mortgage loan. Conversely, only *** percent of households in Romania had a mortgage, with nearly ** percent being homeowners. Meanwhile, an average of ** 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.

Among the reported Asia-Pacific countries, South Korea had the lowest mortgage interest rate of 4.16 percent as of December 2023. New Zealand and Australia had the next lowest mortgage interest rates, at 7.59 and 7.81 percent, respectively, as of January 2024.

Spain Housing Market Indicators: Mortgage Lending: Percent of GDP data was reported at 58.310 % in Mar 2017. This records a decrease from the previous number of 59.730 % for Dec 2016. Spain Housing Market Indicators: Mortgage Lending: Percent of GDP data is updated quarterly, averaging 52.430 % from Mar 1989 (Median) to Mar 2017, with 113 observations. The data reached an all-time high of 101.760 % in Dec 2009 and a record low of 14.820 % in Mar 1989. Spain Housing Market Indicators: Mortgage Lending: Percent of GDP data remains active status in CEIC and is reported by Bank of Spain. The data is categorized under Global Database’s Spain – Table ES.EB003: Housing Market Indicators.

Mortgage Loan Service Market Outlook

The global mortgage loan service market size was valued at approximately $10.5 trillion in 2023 and is projected to reach around $18.2 trillion by 2032, growing at a CAGR of 6.1% during the forecast period. The growth of this market is driven by the increasing urbanization, rising disposable incomes, and favorable government policies aimed at promoting homeownership across various regions. Additionally, the proliferation of digital banking and fintech solutions has made mortgage services more accessible, further contributing to the market's expansion.

One of the primary growth factors for the mortgage loan service market is the significant rise in housing demand globally. As urban populations swell and economic conditions improve, more individuals and families are seeking to purchase homes, driving the need for mortgage loans. This trend is particularly evident in emerging markets, where urbanization is occurring at an unprecedented rate. Governments are also playing a crucial role by implementing policies and grants to make housing more affordable, thereby boosting mortgage adoption.

Technological advancements are another significant factor propelling the mortgage loan service market. The integration of AI, big data analytics, and blockchain technology has revolutionized the way mortgage services are delivered. These technologies streamline application processes, enhance risk assessment, and improve customer service, making it easier and faster for consumers to secure loans. Fintech companies, in particular, are leveraging these technologies to offer more competitive rates and personalized loan products, thereby attracting a broader customer base.

Furthermore, the increasing participation of non-banking financial institutions (NBFIs) and credit unions has diversified the mortgage loan service market. These entities often provide more flexible and innovative loan products compared to traditional banks, meeting the needs of a more varied clientele. NBFIs and credit unions also tend to have more lenient approval processes, making them an attractive option for individuals with non-traditional income sources or lower credit scores. This diversification is contributing significantly to the market's growth.

Mortgage Loans Software is playing an increasingly pivotal role in the evolution of the mortgage loan service market. As the industry embraces digital transformation, software solutions are being developed to streamline the entire mortgage process, from application to approval. These software platforms facilitate better data management, enhance customer experience, and improve operational efficiency for service providers. By automating routine tasks and providing real-time analytics, Mortgage Loans Software helps lenders make more informed decisions, reduce processing times, and minimize errors. This technological advancement is not only beneficial for lenders but also empowers borrowers by offering them greater transparency and control over their mortgage journey.

Regionally, North America continues to dominate the mortgage loan service market due to its well-established financial infrastructure and high homeownership rates. However, the Asia Pacific region is expected to register the fastest growth during the forecast period, driven by rapid urbanization, rising incomes, and government initiatives aimed at affordable housing. Countries like China and India are particularly noteworthy due to their large and growing middle-class populations.

Type Analysis

The mortgage loan service market is segmented by type into fixed-rate mortgages, adjustable-rate mortgages, interest-only mortgages, reverse mortgages, and others. Fixed-rate mortgages are the most popular type, offering borrowers the stability of a constant interest rate over the life of the loan. This makes them particularly attractive in times of low-interest rates, as borrowers can lock in favorable terms for the long term. The predictability of monthly payments also makes fixed-rate mortgages a preferred choice for many homeowners.

Adjustable-rate mortgages (ARMs) offer lower initial interest rates compared to fixed-rate mortgages, making them an attractive option for borrowers who anticipate an increase in their income or plan to sell their property before the rate adjusts. However, the fluctuating interest rates can pose a risk, especially in volatile economic conditions. Despite this, the flexibility

Number of Mortgages: Rural Areas: Bank Loans data was reported at 1,458.000 Unit in May 2018. This records an increase from the previous number of 874.000 Unit for Apr 2018. Number of Mortgages: Rural Areas: Bank Loans data is updated monthly, averaging 1,116.000 Unit from Jan 2003 (Median) to May 2018, with 185 observations. The data reached an all-time high of 2,119.000 Unit in Oct 2008 and a record low of 616.000 Unit in Dec 2013. Number of Mortgages: Rural Areas: Bank Loans data remains active status in CEIC and is reported by National Statistics Institute. The data is categorized under Global Database’s Spain – Table ES.EB012: Mortgage Statistics.

In 2024, the value of the lending to households in Switzerland as a share of its gross domestic product (GDP) was higher than in any of the countries selected here. Australian, Canadian, and South Korean households had an amount of credit which was higher than the overall size of their economy. That year, household lending in Argentina amounted to *** percent of its GDP, which was the lowest figure in the ranking. What is the household debt? Household debt, also known as family debt, includes loans taken to pay for the home or other property, education, vehicles, and other expenses. The largest component of this is mortgage debt, which is seen by many as a way to build long-term equity. As such, households are willing to take on a large amount of this debt with the goal of owning an asset that holds value and can be used as a residence in the meantime. The cost of debt The cost of a loan depends on a number of factors such as the interest rate, borrower’s credit risk or time period of a loan. The value of mortgage and the rate of return on assets such as real estate also depend largely on geographic location. The highest borrowers in this statistic are likely living in countries where credit is affordable and expected returns are relatively high, incentivizing heavy borrowing.

The International Bank for Reconstruction and Development (IBRD) loans are public and publicly guaranteed debt extended by the World Bank Group. IBRD loans are made to, or guaranteed by, countries that are members of IBRD. IBRD may also make loans to IFC. IBRD lends at market rates. Data are in U.S. dollars calculated using historical rates. This dataset contains the latest available snapshot of the Statement of Loans. The World Bank complies with all sanctions applicable to World Bank transactions.

Residential Mortgage Loan Market Outlook

The global residential mortgage loan market size was valued at approximately USD 15 trillion in 2023 and is projected to reach around USD 25 trillion by 2032, growing at a compound annual growth rate (CAGR) of 6.1% over the forecast period. The primary growth drivers for this market include increasing urbanization, rising disposable incomes, and favorable government policies aimed at promoting home ownership.

One of the most significant factors contributing to the growth of the residential mortgage loan market is urbanization. As more people move to urban areas in search of better opportunities and living conditions, the demand for residential properties has surged. This urban migration has led to a corresponding increase in the demand for mortgage loans, as individuals seek financial assistance to purchase homes. Additionally, the trend of nuclear families is gaining traction, further boosting the demand for residential properties and, consequently, mortgage loans.

Rising disposable incomes and improved economic conditions have also played a crucial role in the expansion of the residential mortgage loan market. As people earn more, they are more likely to invest in real estate, viewing homeownership as a long-term investment and a means of financial security. Furthermore, low-interest rates on mortgage loans, driven by monetary policies of various countries, have made borrowing more affordable, encouraging more people to take out mortgage loans.

Government policies and initiatives aimed at promoting homeownership have significantly fueled the growth of the residential mortgage loan market. Many countries offer tax incentives, subsidies, and lower interest rates for first-time homebuyers and low-income groups. Such policies are designed to make homeownership more accessible and affordable, driving the demand for mortgage loans. Additionally, governments are increasingly collaborating with financial institutions to provide affordable housing solutions, further stimulating market growth.

On a regional level, North America and Europe have traditionally dominated the residential mortgage loan market due to their mature real estate markets and high homeownership rates. However, emerging economies in the Asia Pacific and Latin America regions are witnessing rapid growth in this sector. Factors such as increasing population, urbanization, and rising middle-class incomes are driving the demand for residential mortgage loans in these regions. Moreover, favorable government policies and a growing number of financial institutions offering mortgage products are further contributing to market expansion.

Type Analysis

The residential mortgage loan market is segmented by type into fixed-rate mortgages, adjustable-rate mortgages, interest-only mortgages, and others. Fixed-rate mortgages are the most popular type, owing to their stability and predictability. Borrowers prefer fixed-rate mortgages because they offer a consistent monthly payment plan, making it easier for them to budget and plan their finances. This stability is particularly appealing during times of economic uncertainty or fluctuating interest rates.

Adjustable-rate mortgages (ARMs), on the other hand, offer lower initial interest rates compared to fixed-rate mortgages. However, the rate can fluctuate based on market conditions, which can either be an advantage or a risk for borrowers. ARMs are often chosen by those who plan to sell or refinance their homes before the adjustable period begins. This type of mortgage is popular among borrowers who are willing to take a risk for the potential benefit of lower initial costs.

Interest-only mortgages allow borrowers to pay only the interest on the loan for a specified period, usually between five to ten years. After this period, the borrower must start paying both the principal and the interest, resulting in higher monthly payments. Interest-only mortgages are typically utilized by investors or those expecting a significant increase in income in the future. This type allows for lower initial payments, providing greater cash flow flexibility in the short term.

The 'Others' category includes various specialized mortgage products tailored to meet specific borrower needs. These can include reverse mortgages, which allow seniors to convert part of their home equity into cash, and jumbo loans, which cater to borrowers looking to finance luxury homes that exceed conforming loan limits. The diversity in mortgage types ensures that there are suitab

Spain Number of Mortgages: Urban Areas: Land Sites data was reported at 590.000 Unit in May 2018. This records an increase from the previous number of 510.000 Unit for Apr 2018. Spain Number of Mortgages: Urban Areas: Land Sites data is updated monthly, averaging 2,566.000 Unit from Jan 2003 (Median) to May 2018, with 185 observations. The data reached an all-time high of 6,905.000 Unit in May 2007 and a record low of 434.000 Unit in Dec 2016. Spain Number of Mortgages: Urban Areas: Land Sites data remains active status in CEIC and is reported by National Statistics Institute. The data is categorized under Global Database’s Spain – Table ES.EB012: Mortgage Statistics.

This dataset provides values for 15 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.

Global Mortgage Lender market size is expected to reach $2046.53 billion by 2029 at 12%, surging housing demand fuels growth in mortgage lender market

Spain Number of Mortgages: Urban Areas: Bank Loans data was reported at 36,234.000 Unit in May 2018. This records an increase from the previous number of 34,808.000 Unit for Apr 2018. Spain Number of Mortgages: Urban Areas: Bank Loans data is updated monthly, averaging 30,633.000 Unit from Jan 2003 (Median) to May 2018, with 185 observations. The data reached an all-time high of 62,547.000 Unit in Sep 2005 and a record low of 14,576.000 Unit in Aug 2013. Spain Number of Mortgages: Urban Areas: Bank Loans data remains active status in CEIC and is reported by National Statistics Institute. The data is categorized under Global Database’s Spain – Table ES.EB012: Mortgage Statistics.

Graph and download economic data for Rest of the World; U.S. Mortgage-Backed Securities and Other U.S. Asset-Backed Bonds; Asset, Market Value Levels (BOGZ1LM263063603Q) from Q4 1945 to Q1 2025 about asset-backed, mortgage-backed, market value, bonds, securities, assets, and USA.