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:
|
Conventional Mortgage Loans
Government-insured Mortgage Loans
Jumbo Loans
|
|
By Mortgage Loan Terms:
|
30-year Mortgage
20-year Mortgage
15-year Mortgage
|
|
By Interest Rate:
|
Adjustable-rate Mortgage Loan
Fixed-rate Mortgage Loan
|
|
By End User:By Provider:
|
Primary Mortgage Lender
Secondary Mortgage Lender
|
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 report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Mortgage Lending Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Mortgage Lending Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. 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, 2023-2033
7.2. Conventional Mortgage Loans
7.3. Government-insured Mortgage Loans
7.4. Jumbo Loans
7.5. 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, 2023-2033
8.2. 30-year Mortgage
8.3. 20-year Mortgage
8.4. 15-year Mortgage
8.5. Others
9. Global Mortgage Lending Market, By Interest Rate (USD Million)
9.1. Global Mortgage Lending Market Value Share and Forecast, By Interest Rate, 2023-2033
9.2. Adjustable-rate Mortgage Loan
9.3. 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, 2023-2033
10.2. Primary Mortgage Lender
10.2.1. Banks
10.2.2. Credit Unions
10.2.3. NBFC's
10.2.4. Primary Mortgage Lender
10.2.5. Others
10.3. 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-Pacific
16.3.1. Australia
16.3.2. China
16.3.3. India
16.3.4. Japan
16.3.5. South Korea
16.3.6. Rest of Asia-Pacific
16.4. Europe
16.4.1. France
16.4.2. Germany
16.4.3. Italy
16.4.4. Spain
16.4.5. United Kingdom
16.4.6. Rest of Europe
16.5. Middle East and Africa
16.5.1. Kingdom of Saudi Arabia
16.5.2. United Arab Emirates
16.5.3. Rest of Middle East & Africa
16.6. North America
16.6.1. Canada
16.6.2. Mexico
16.6.3. United States
16.7. Latin America
16.7.1. Argentina
16.7.2. Brazil
16.7.3. Rest of Latin America
17. Company Profile
17.1. Ally
17.1.1. Company details
17.1.2. Financial outlook
17.1.3. Product summary
17.1.4. Recent developments
17.2. Bank of America Corporation
17.2.1. Company details
17.2.2. Financial outlook
17.2.3. Product summary
17.2.4. Recent developments
17.3. BNP Paribas
17.3.1. Company details
17.3.2. Financial outlook
17.3.3. Product summary
17.3.4. Recent developments
17.4. China Zheshang Bank
17.4.1. Company details
17.4.2. Financial outlook
17.4.3. Product summary
17.4.4. Recent developments
17.5. Clear Capital
17.5.1. Company details
17.5.2. Financial outlook
17.5.3. Product summary
17.5.4. Recent developments
17.6. JP Morgan & Chase
17.6.1. Company details
17.6.2. Financial outlook
17.6.3. Product summary
17.6.4. Recent developments
17.7. Mitsubishi UFJ Financial Group
17.7.1. Company details
17.7.2. Financial outlook
17.7.3. Product summary
17.7.4. Recent developments
17.8. Mr. Cooper
17.8.1. Company details
17.8.2. Financial outlook
17.8.3. Product summary
17.8.4. Recent developments
17.9. Qatar National Bank
17.9.1. Company details
17.9.2. Financial outlook
17.9.3. Product summary
17.9.4. Recent developments
17.10. Rocket Mortgage, LLC
17.10.1. Company details
17.10.2. Financial outlook
17.10.3. Product summary
17.10.4. Recent developments
17.11. Royal Bank of Canada
17.11.1. Company details
17.11.2. Financial outlook
17.11.3. Product summary
17.11.4. Recent developments
17.12. Sofi
17.12.1. Company details
17.12.2. Financial outlook
17.12.3. Product summary
17.12.4. Recent developments
17.13. Standard Chartered PLC
17.13.1. Company details
17.13.2. Financial outlook
17.13.3. Product summary
17.13.4. Recent developments
17.14. Truist financial corporation
17.14.1. Company details
17.14.2. Financial outlook
17.14.3. Product summary
17.14.4. Recent developments
17.15. Others
18. List of Abbreviations
19. Reference Links
20. Conclusion
21. Research Scope