Portland, OR, Aug. 17, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the mortgage market generated $11.48 billion in 2021 and is expected to reach $27.50 billion by 2031, growing at a CAGR of 9.5% from 2022 to 2031. The report offers a detailed analysis of the changing trends in the market, major segments, value chain, key investment pockets, competitive scenario, and regional landscape. The report is essential for key market players, investors, new entrants and stakeholders in formulating strategies for the future and taking action to strengthen their position in the market.
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Report coverage and details:
|Market size in 2021||$11.48 billion|
|Market size in 2031||$27.50 billion|
|Number of pages in the report||363|
|Segments Covered||Mortgage type, mortgage terms, interest rate, provider and region|
|Drivers||Increase in innovations in software design to speed up the mortgage application process|
|Reduced costs for the lender|
|Need to improve the overall customer experience|
|Opportunities||Increasing digitization of the mortgage market|
|holds back||Higher interest rate on mortgages and additional fees|
- The Covid-19 pandemic had a moderate impact on the sector as some lenders struggled to cope with the workload and had no choice but to raise rates.
- Mortgage debt represents the main source of debt for individual owners and has had a significant impact on their financial situation and their ability to maintain financial stability in the event of a reduction or loss of salary.
The report offers a detailed segmentation of the global mortgage market on the basis of mortgage type, mortgage terms, interest rate, provider, and region. The report provides an analysis of each segment and sub-segment using tables and figures. This analysis helps market players, investors, and new entrants determine which sub-segments should be leveraged to achieve growth in the coming years.
By mortgage type, the conventional mortgage segment accounted for the highest share in 2021, contributing almost three-quarters of the total share, and is expected to maintain its leading status over the forecast period. However, the jumbo loan segment is expected to show the highest CAGR of 13.7% from 2022 to 2031.
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Based on mortgage terms, the 30-year mortgage segment held the largest share in 2021, accounting for more than half of the market, and is expected to maintain its revenue dominance by 2031. However, the 15-year mortgage segment is estimated to witness the highest CAGR of 13.7% during the forecast period.
On an interest rate basis, the fixed rate mortgage segment dominated the market in terms of revenue in 2021, accounting for more than two-thirds of the market, and is expected to maintain its leading position during the forecast period. However, the adjustable rate mortgage segment is expected to register the highest CAGR of 11.3% during the forecast period.
On a provider basis, the primary mortgage lenders segment held the largest share in 2021, accounting for almost three-quarters of the market, and is expected to maintain its dominance through 2031. However, the secondary mortgage lenders segment is expected to exhibit CAGR the highest of 12.1% over the forecast period.
Based on region, North America accounted for the highest share in 2021, contributing almost half of the total market share, and is expected to maintain its leading status by 2030. However, Asia -Pacific is expected to post the fastest CAGR of 13.2%. during the forecast period.
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Key players in the global mortgage loan market analyzed in the research include Bank of America Corporation, Ally Financial Inc., Citigroup, Inc., BNP Paribas Fortis, JPMorgan Chase & Co, Fannie Mae, PT Bank Central Asia Tbk, Mr. Cooper Group Inc., Royal Bank of Canada, QNB, Social Finance, Inc., Rocket Mortgage, LLC, Truist, Standard Chartered, Wells Fargo, ClearCapital.com, Inc. and Roostify, Inc.
The report analyzes these key players in the global mortgage market. These players have adopted various strategies such as expansion, new product launches, partnerships and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments of each market player.
Main benefits for stakeholders
- This report provides a quantitative analysis of market segments, current trends, estimates and dynamics of Mortgage Lending Market analysis from 2021 to 2031 to identify current opportunities in the Mortgage Lending Market.
- Market research is offered with information related to key drivers, restraints, and opportunities.
- Porter’s Five Forces analysis highlights the ability of buyers and suppliers to enable stakeholders to make profit-driven business decisions and strengthen their supplier-buyer network.
- An in-depth analysis of the mortgage market segmentation helps to determine the existing market opportunities.
- Major countries in each region are mapped according to their revenue contribution in the global market.
- The positioning of market players facilitates benchmarking and provides a clear understanding of the current position of market players.
- The report includes analysis of regional and global mortgage loan market trends, key players, market segments, application areas and market growth strategies.
Key market segments
- Conventional mortgages
- Jumbo Loans
- Government insured mortgages
- 30 year mortgage
- 20 year mortgage
- 15 year mortgage
- Fixed Rate Mortgage
- Adjustable rate mortgage loan
- Primary Mortgage Lender
- Primary Mortgage Lender
- credit unions
- Primary Mortgage Lender
- Secondary Mortgage Lender
- North America
- The rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East
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