5 Countries With Highest Mortgage Rates

In this article, we will take a look at the 5 countries with the highest mortgage rates. If you want to read our detailed analysis, you can go directly to 15 Countries With Highest Mortgage Rates.

5. South Africa

Latest Mortgage Rate (November 2023): 11.75%

Average Mortgage Rate (January 1965 – November 2023): 12.78%

South Africa ranks among the countries with the highest mortgage rates. South Africa has a mortgage rate of 11.75% as of November 2023. The average mortgage rate in South Africa between January 1965 and November 2023 was 12.78%. The lowest and highest recorded rate during this period was 7% and 24%, respectively.

4. Armenia

Latest Mortgage Rate (December 2023): 12.54% 

Average Mortgage Rate (December 2009 – December 2023): 11.92%

With a mortgage rate of 12.54% as of December 2023, Armenia ranks as one of the countries with the highest mortgage rates. The average mortgage rate between December 2009 and December 2023 was 11.92%, with the lowest mortgage rate recorded at 10.14%.

3. Dominican Republic

Latest Mortgage Rate (September 2023): 10.38%

Average Mortgage Rate (December 2005 – September 2023): 12.76%

The Dominican Republic ranks third among the countries with the highest mortgage rates in the world. The country has a mortgage rate of 10.38% as of September 2023. The average mortgage rate between December 2005 and September 2023 was 12.76%.

2. Turkey

Latest Mortgage Rate (December 2023): 41.50%

Average Mortgage Rate (January 2002 – December 2023): 18.93%

Turkey ranks second among the countries with the highest mortgage rates. The mortgage rate as of December 2023 in Turkey was recorded at 41.50%. The average mortgage rate in Turkey between January 2002 and December 2023 was 18.93%, with the lowest mortgage rate recorded at 8.3% and the highest recorded at 58.45%.

1. Argentina

Latest Mortgage Rate (December 2023): 130.60%

Average Mortgage Rate (January 2002 – December 2023): 21.35%

According to our methodology, Argentina ranks first among the countries with the highest mortgage rates. The average mortgage rate in Argentina between January 2002 and December 2023 was 21.35%. The lowest mortgage rate within this period was 10.08%.

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