Mortgage Lending Market Growth, Size, Trends, Revenue, Demand, Challenges and Future Outlook
Mortgage Lending Market Size- By Type of Mortgage Loan, By Mortgage Loan Terms, By Interest Rate, By Provider- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Sep-2023 | Report ID: BFSI2346 | Pages: 1 - 245 | Formats*: |
| Category : BFSI | |||
Mortgage Lending Market Introduction and Overview
According to SPER Market Research, the Global Mortgage Lending Market is estimated to reach USD 33090 billion by 2033 with a CAGR of 9.7%.
The report includes an in-depth analysis of the Global Mortgage Lending Market, including market size and trends, product mix, distribution channels, and supplier analysis. A mortgage, also referred to as a mortgage loan, is an agreement between a borrower and a mortgage lender that enables the purchase or refinancing of a property without requiring the full upfront payment. If the borrower fails to meet the terms of the mortgage, typically by not repaying the borrowed amount along with interest, this arrangement legally empowers the lender to take possession of the property as a form of collateral.
- November 2022: BNP Paribas is expanding its presence in the United States after the acquisition of Exane, which is the largest lender in the eurozone, took place last year.
- August 2022: Bank of America has introduced a mortgage option for first-time homebuyers in certain areas of Charlotte, Dallas, Detroit, Los Angeles, and Miami. This program includes a bank-provided down payment and no closing costs to assist qualified individuals and families in purchasing a home.
Market Opportunities and Challenges
The mortgage industry has been progressively integrating technology to streamline and expedite the mortgage application process from start to finish, enhancing the customer experience. Furthermore, the market is witnessing growth opoortunities due to the availability of mortgage services through smartphone applications, particularly for underwriting procedures.
Nevertheless, factors such as elevated interest rates on mortgage loans and increased fees for mortgage brokers are impeding market expansion. Conversely, the adoption of APIs and open banking within the mortgage lending sector is expected to fuel market growth in the coming years. Additionally, the increasing utilization of artificial intelligence (AI) and machine learning (ML) to automate underwriting and application processes holds the potential to create lucrative opportunities for market growth in the future.
Market Competitive Landscape
The market exhibits a moderate level of fragmentation, with several major players, including Ally, Bank of America Corporation, BNP Paribas, China Zheshang Bank, Clear Capital, JP Morgan & Chase, Mitsubishi UFJ Financial Group, Mr. Cooper, Qatar National Bank, Rocket Mortgage, LLC, Royal Bank of Canada, Sofi, Standard Chartered PLC, Truist financial corporation, Others. These companies have employed a range of strategies to expand their market presence and enhance their standing within the accounting and budgeting software sector.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Type of Mortgage Loan, By Mortgage Loan Terms, By Interest Rate, By Provider |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | Ally, Bank of America Corporation, BNP Paribas, China Zheshang Bank, Clear Capital, JP Morgan & Chase, Mitsubishi UFJ Financial Group, Mr. Cooper, Qatar National Bank, Rocket Mortgage, LLC, Royal Bank of Canada, Sofi, Standard Chartered PLC, Truist financial corporation, Others |
COVID-19 Impact on Global Mortgage Lending Market
The COVID-19 pandemic moderately impacted the mortgage lending industry, leading some lenders to raise rates due to increased workload. Mortgage debt became a significant financial burden for homeowners, particularly in the face of income reductions. Mortgages are crucial assets for lenders, affecting their profitability and liquidity. However, initiatives like product suitability, transparency, and responsible lending regulations, considering borrowers' repayment capacity and limiting loan-to-value ratios, contributed to the industry's resilience and growth during the crisis.
Key Target Audience:
- Builders and Developers
- Credit Agencies
- Existing Homeowners
- Financial Planners and Advisors
- Homebuyers
- Insurance Agents
- Investors
- Loan Officers
- Mortgage Brokers
- Real Estate Agents
- Real Estate Attorneys
- Others
Our in-depth analysis of the Mortgage Lending Market includes the following segments:
| By Type of Mortgage Loan: |
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| By Mortgage Loan Terms: |
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| By Interest Rate: |
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| By End User:By Provider: |
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Key Topics Covered in the Report:
- Global Mortgage Lending Market Size (FY’2023-FY’2033)
- Overview of Global Mortgage Lending Market
- Segmentation of Global Mortgage Lending Market By Type of Mortgage Loan (Conventional Mortgage Loans, Government-insured Mortgage Loans, Jumbo Loans, Others)
- Segmentation of Global Mortgage Lending Market By Mortgage Loan Terms (30-year Mortgage, 20-year Mortgage, 15-year Mortgage, Others)
- Segmentation of Global Mortgage Lending Market By Interest Rate (Adjustable-rate Mortgage Loan, Fixed-rate Mortgage Loan)
- Segmentation of Global Mortgage Lending Market By Provider (Primary Mortgage Lender, Secondary Mortgage Lender)
- Statistical Snap of Global Mortgage Lending Market
- Expansion Analysis of Global Mortgage Lending Market
- Problems and Obstacles in Global Mortgage Lending Market
- Competitive Landscape in the Global Mortgage Lending Market
- Impact of COVID-19 and Demonetization on Global Mortgage Lending Market
- Details on Current Investment in Global Mortgage Lending Market
- Competitive Analysis of Global Mortgage Lending Market
- Prominent Players in the Global Mortgage Lending Market
- SWOT Analysis of Global Mortgage Lending Market
- Global Mortgage Lending Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Global Mortgage Lending Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Mortgage Lending Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Mortgage Lending Market
7. Global Mortgage Lending Market, By Type of Mortgage Loan (USD Million)
7.1. Global Mortgage Lending Market Value Share and Forecast, By Type of Mortgage Loan, 2023-20337.2. Conventional Mortgage Loans7.3. Government-insured Mortgage Loans7.4. Jumbo Loans7.5. Others
8. Global Mortgage Lending Market, By Mortgage Loan Terms (USD Million)
8.1. Global Mortgage Lending Market Value Share and Forecast, By Mortgage Loan Terms, 2023-20338.2. 30-year Mortgage8.3. 20-year Mortgage8.4. 15-year Mortgage8.5. Others
9. Global Mortgage Lending Market, By Interest Rate (USD Million)
9.1. Global Mortgage Lending Market Value Share and Forecast, By Interest Rate, 2023-20339.2. Adjustable-rate Mortgage Loan9.3. Fixed-rate Mortgage Loan
10. Global Mortgage Lending Market, By Provider (USD Million)
10.1. Global Mortgage Lending Market Value Share and Forecast, By Provider, 2023-203310.2. Primary Mortgage Lender10.2.1. Banks10.2.2. Credit Unions10.2.3. NBFC's10.2.4. Primary Mortgage Lender10.2.5. Others10.3. Secondary Mortgage Lender
11. Global Mortgage Lending Market Forecast, 2019-2033 (USD Million)
11.1. Global Mortgage Lending Market Size and Market Share
12. Global Mortgage Lending Market, By Type of Mortgage Loan, 2019-2033 (USD Million)
12.1. Global Mortgage Lending Market Size and Market Share By Type of Mortgage Loan (2019-2026)12.2. Global Mortgage Lending Market Size and Market Share By Type of Mortgage Loan (2027-2033)
13. Global Mortgage Lending Market, By Mortgage Loan Terms, 2019-2033 (USD Million)
13.1. Global Mortgage Lending Market Size and Market Share By Mortgage Loan Terms (2019-2026)13.2. Global Mortgage Lending Market Size and Market Share By Mortgage Loan Terms (2027-2033)
14. Global Mortgage Lending Market, By Interest Rate, 2019-2033 (USD Million)
14.1. Global Mortgage Lending Market Size and Market Share By Interest Rate (2019-2026)14.2. Global Mortgage Lending Market Size and Market Share By Interest Rate (2027-2033)
15. Global Mortgage Lending Market, By Provider, 2019-2033 (USD Million)
15.1. Global Mortgage Lending Market Size and Market Share By Provider (2019-2026)15.2. Global Mortgage Lending Market Size and Market Share By Provider (2027-2033)
16. Global Mortgage Lending Market, By Region, 2019-2033 (USD Million)
16.1. Global Mortgage Lending Market Size and Market Share By Region (2019-2026)16.2. Global Mortgage Lending Market Size and Market Share By Region (2027-2033)16.3. Asia-Pacific16.3.1. Australia16.3.2. China16.3.3. India16.3.4. Japan16.3.5. South Korea16.3.6. Rest of Asia-Pacific16.4. Europe16.4.1. France16.4.2. Germany16.4.3. Italy16.4.4. Spain16.4.5. United Kingdom16.4.6. Rest of Europe16.5. Middle East and Africa16.5.1. Kingdom of Saudi Arabia16.5.2. United Arab Emirates16.5.3. Rest of Middle East & Africa16.6. North America16.6.1. Canada16.6.2. Mexico16.6.3. United States16.7. Latin America16.7.1. Argentina16.7.2. Brazil16.7.3. Rest of Latin America
17. Company Profile
17.1. Ally17.1.1. Company details17.1.2. Financial outlook17.1.3. Product summary17.1.4. Recent developments17.2. Bank of America Corporation17.2.1. Company details17.2.2. Financial outlook17.2.3. Product summary17.2.4. Recent developments17.3. BNP Paribas17.3.1. Company details17.3.2. Financial outlook17.3.3. Product summary17.3.4. Recent developments17.4. China Zheshang Bank17.4.1. Company details17.4.2. Financial outlook17.4.3. Product summary17.4.4. Recent developments17.5. Clear Capital17.5.1. Company details17.5.2. Financial outlook17.5.3. Product summary17.5.4. Recent developments17.6. JP Morgan & Chase17.6.1. Company details17.6.2. Financial outlook17.6.3. Product summary17.6.4. Recent developments17.7. Mitsubishi UFJ Financial Group17.7.1. Company details17.7.2. Financial outlook17.7.3. Product summary17.7.4. Recent developments17.8. Mr. Cooper17.8.1. Company details17.8.2. Financial outlook17.8.3. Product summary17.8.4. Recent developments17.9. Qatar National Bank17.9.1. Company details17.9.2. Financial outlook17.9.3. Product summary17.9.4. Recent developments17.10. Rocket Mortgage, LLC17.10.1. Company details17.10.2. Financial outlook17.10.3. Product summary17.10.4. Recent developments17.11. Royal Bank of Canada17.11.1. Company details17.11.2. Financial outlook17.11.3. Product summary17.11.4. Recent developments17.12. Sofi17.12.1. Company details17.12.2. Financial outlook17.12.3. Product summary17.12.4. Recent developments17.13. Standard Chartered PLC17.13.1. Company details17.13.2. Financial outlook17.13.3. Product summary17.13.4. Recent developments17.14. Truist financial corporation17.14.1. Company details17.14.2. Financial outlook17.14.3. Product summary17.14.4. Recent developments17.15. Others
18. List of Abbreviations
19. Reference Links
20. Conclusion
21. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Mortgage Lending Market size is USD 33090 billion from 2023 to 2033.
Mortgage Lending Market Segment is Covered By Type of Mortgage Loan, By Mortgage Loan Terms, By Interest Rate, By Provider
The North America region is anticipated to have the highest market share in Mortgage Lending Market.
The key players in the market include Companies Covered Ally, Bank of America Corporation, BNP Paribas, China Zheshang Bank, Clear Capital, JP Morgan & Chase, Mitsubishi UFJ Financial Group, Mr. Cooper, Qatar National Bank, Rocket Mortgage, LLC, Royal Bank of Canada, Sofi, Standard Chartered PLC, Truist financial corporation, Others
Bank of America has introduced a mortgage option for first-time homebuyers in certain areas of Charlotte, Dallas, Detroit, Los Angeles, and Miami.
Mortgage Lending Market is projected to reach USD 33090 billion by 2033, growing at a CAGR of 9.7% during the forecast period.
Mortgage Lending Market grew in market size from 2023. The Market is expected to reach USD 33090 billion by 2033, at a CAGR of 9.7% during the forecast period.
Mortgage Lending Market CAGR of 9.7% during the forecast period.
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