Mortgage Interest Rate

Oceania Ranking

percentSource: IMF

Current Rank	Country	Value	Latest Reading	Previous Rank	Previous Value

1	Vanuatu	16.25	12-2022	1	13.25
2	Tonga	8.1	6-2022	2	8.1
3	Australia	7.59	7-2023	3	7.17
4	New Zealand	7.33	7-2023	4	7.14

Definition of Mortgage Interest Rate

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.