PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1358260
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1358260
The global mortgage lending market is set to experience robust growth, driven by a projected Compound Annual Growth Rate (CAGR) of 10% between 2023 and 2030, according to a recent market analysis. The market is forecasted to reach a total value of approximately US$25 billion by the end of the decade.
Mortgage lending, the cornerstone of the housing finance industry, refers to the financial institutions that provide individuals with the funds necessary to purchase or refinance real estate properties. These lenders play a pivotal role in making the dream of homeownership a reality for countless individuals and families. Mortgage lending decisions are based on factors such as creditworthiness, loan terms, interest rates, and repayment plans.
The mortgage lending market's impressive growth can be attributed to several key drivers:
While the mortgage lending market holds enormous potential, it is not without challenges. Rising mortgage interest rates can pose obstacles to market expansion. However, the market offers growth opportunities through conventional loans, government-insured loans, and various interest rate options like fixed-rate and adjustable-rate mortgages.
North America: North America continues to lead the mortgage lending market, with various government initiatives promoting housing finance and homeownership.
Europe: Europe emerges as one of the fastest-growing markets, driven by rising income levels, increased affordability, and a booming real estate sector.
Leading players in the global mortgage lending market include: Standard Chartered PLC, BNP Paribas, Royal Bank of Canada, Qatar National Bank, Clear Capital, Ally, Mitsubishi UFJ Financial Group, JP Morgan & Chase, Rocket Mortgage, LLC, Sofi, Federal National Mortgage Association (FNMA), Bank of America Corporation, Roostify, Mr. Cooper, Truist financial corporation, China Zheshang Bank, and PT Bank Central Asia Tbk.