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. The record-low mortgage rates in the wake of the coronavirus pandemic stimulated home buying and contributed to a surge in house prices. In response to the rising inflation in 2022, central banks worldwide announced a series of base rate hikes, leading to higher costs for mortgage borrowers. As a result, the housing market has shown signs of slowing down. 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 EUR
Mortgage debt outstanding in the UK
1.5tr GBP

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 2021, with or without a mortgage

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Further details: Visit original statistic Share of the population in European countries who are owner-occupants in 2021, with or without a mortgage

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 2021

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Further details: Visit original statistic Median down payment of first-time and repeat buyers in the United States from 1989 to 2021

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 2021, repeat buyers had 17 percent of the purchase price on hand, whereas first-time buyers only had seven 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 in 2021

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Further details: Visit original statistic Average mortgage rates for selected European countries in 2021

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. Though at a record low until recently, mortgage rates have started increasing in many countries worldwide. Higher mortgage rates are a direct result of central banks hiking lending rates to tackle inflation.

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 2021, by market share

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Further details: Visit original statistic Largest mortgage lenders in the United Kingdom (UK) in 2021, by market share

Comparing the market shares of mortgage lenders is an easy way to find the industry leaders. In 2021, Lloyds Banking Group was the UK’s largest lender with 18 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 was the biggest building society and the third-largest lender with a market share of approximately 11.5 percent in 2021.

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

State of the industry

  • Real Estate in the UK - Industry Insights & Data Analysis
  • Real Estate in Germany 2021
  • Real Estate in Europe - Industry Insights and Data Analysis
  • Residential property in Europe: the status quo after COVID-19
  • Mortgage industry of the United States
  • Mortgages in Italy
  • Mortgages in the Netherlands
  • Mortgage market in Western European countries
  • Mortgages in the United Kingdom (UK)

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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