Mortgages & Financing

A mortgage is the most common way to finance a home purchase. From a macroeconomic perspective, mortgages also serve as a financial instrument that helps regulate spending and inflation. In the wake of the coronavirus (COVID-19) crisis, central banks confronted the upcoming recession with record low mortgage rates which stimulated home buying. Nevertheless, we don’t need to look too far back in time to see examples of how mortgages failed home buyers – in 2007-2008 a wave of subprime mortgages was at the root of the Great Recession.
In this section, Statista presents the most relevant and up to date facts on the mortgages and financing market worldwide such as the largest lenders, average mortgage rates, debt outstanding, delinquencies, and many more.

Mortgage debt outstanding in the U.S.
11.2tr USD
Mortgage debt outstanding in Germany
1.6tr euros
Mortgage debt outstanding in the UK
1.5tr GBP

Industry Insights

Real Estate in the U.S. 2020

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Market size

In Sweden, Norway, the Netherlands, and Iceland more than half of households are owner-occupied with mortgage
Share of the population in European countries who are owner-occupants in 2019, with or without a mortgage
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High home ownership rate does not always mean high mortgage penetration. In Europe, both Norway and Romania were among the countries with highest home ownership. Nevertheless, in Norway, over 60 percent of the households were owner-occupied with a mortgage, whereas in Romania, the share was around one percent. This has to do with many factors such as the supply and demand on the housing market, as well as the overall economic stability in the country.

Mortgage originations in the U.S., by type
Value of residential mortgage lending Europe, by country
Outstanding mortgage debt in Africa, by country

Market segments

First time buyers in the U.S. take out a mortgage against a lower downpayment
Median down payment of first-time and repeat buyers in the United States from 1989 to 2019
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Repeat buyers in the United States have consistently had a larger percentage of the purchase price to put down as a down payment when buying a home compared with first-time buyers. In 2019, repeat buyers had 16 percent of the purchase price on hand, whereas first-time buyers only had six percent of theirs.

Average value of first time buyers mortgage UK, by region
Number of commercial mortgage deliquencies U.S., by sector
Number of home equity conversion mortgages (HECM) in the U.S.

Industry trends

Portugal, France and Germany have some of Europe's lowest average mortgage rates
Average mortgage rates for selected European countries as of 2020, by country
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Mortgage rates are decided on the base level of supply and demand, with main macro determinants including factors such as inflation, economic growth, and the health of the housing market. In 2019, home buyers in Portugal and France enjoyed housing loans with interest rates as low as 1.1 and 1.2 percent. In contrast, in Hungary, mortgage rates were approximately four times higher.

Average mortgage interest rate UK, by type of mortgage
Average mortgage interest rate Russia
Average mortgage interest rate in Africa, by country

Industry leaders

UK's top ten lenders accounted for 80 percent of the mortgage market
Largest mortgage lenders in the United Kingdom (UK) in 2020, by market share
Further details: Visit original statistic

Comparing the market shares of mortgage lenders is an easy way to find the industry leaders. In 2019, Lloyds Banking Group was UK’s largest lender with 17.2 percent of gross mortgage lending. Besides banks, home buyers often turn to building societies for funding – financial institutions similar to credit unions with focus on housing loans. Nationwide BS is the biggest building society and the second largest lender with a market share of approximately 12.6 percent as of 2019.

Leading reverse mortgage lenders U.S., by market share
Leading lenders in South Korea, by value of mortgage originations
Leading banks in Russia, by volume of mortgages granted

Industry Definition

A mortgage is a loan which is taken out to finance a real estate purchase and is paid out with a predetermined set of payments. Both private and legal persons can take out a mortgage. Mortgages differ depending on the term and interest rate – fixed, adjustable-rate mortgage, initial, and interest-only. Failing to make regular payments (defaulting) may result in a foreclosure and the lender taking ownership of the property.

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