Mortgage interest rates in the US are around 6.8% right now. Does that feel high?

Relative to recent history? Yes.

Average US mortgage interest rate between 2009 and 2022 was about 3.75%.

Relative to the countries below? Absolutely not.

Here are the 10 countries with the highest central bank interest rates.

Reminder: High central bank interest rate = high mortgage rate.

10. Kazakhstan - 16.5%

9. Gambia - 17%

8. Angola - 18%

7. Russia - 20%

6. Lebanon - 20%

5. Iran - 23%

4. Egypt - 24%

3. Malawi - 26%

2. Ghana - 28%

1. Argentina - 29%

But, good news!!

Mortgage rates in Italy are 3.5%!!

So if you’re thinking about where to buy your next vacation home, put down that pamphlet on Ghana. Ditch that realtor from Argentina. Tell that internet scammer from Egypt “no thanks, ‘Steve’ ”.

Just look at Tuscany instead.

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