GITNUX MARKETDATA REPORT 2024

Mortgage Duration Statistics

Mortgage durations typically range from 15 to 30 years, with the most common duration being around 30 years in many countries.

Statistic 1

"In 2020, about 31.7% of homeowners in the U.S. had paid off their mortgage."

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Statistic 2

"The median duration homeowners plan to stay in their homes before selling is 13 years."

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Statistic 3

"In 2020, the cash-out refinance volume increased 42% in the U.S."

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Statistic 4

"About 1 percent of all loans would default in their first year."

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Statistic 5

"The average mortgage term in Canada is five years."

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Statistic 6

"In 2019, the average mortgage rate was around 4.04 percent."

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Statistic 7

"A majority of U.K. home-buyers are opting for mortgage terms of 30+ years."

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Statistic 8

"The average mortgage term in the UK is 25 years."

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Statistic 9

"About 6.1% of U.S. mortgages were in the stage of delinquency in April 2021."

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Statistic 10

"Nearly 75% of all U.S. households carry mortgage debt."

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Statistic 11

"In 2020, the average maturity for mortgages ranged from 22 to 30 years across European countries."

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Statistic 12

"80% of mortgage buyers plan on a 30-year mortgage in the U.S."

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Statistic 13

"As of 2019, the typical years to foreclosure after delinquency was 2.70 years."

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Statistic 14

"The average first-time buyer in the UK is 34 years old, indicating the length of mortgage terms extending into later age."

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Statistic 15

"Only around 30% of home loan borrowers in Australia have a mortgage term more than 25 years."

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Statistic 16

"In 2020, about 78.3% of mortgages were for 30 years in the U.S."

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Statistic 17

"In Australia, the most common loan term was 25 years."

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