According to the report published by Allied Market Research, the global mortgage lending market generated $11.48 billion in 2021, and is estimated to reach $27.50 billion by 2031, witnessing a CAGR of 9.5% from 2022 to 2031.
Leading players of the global mortgage lending 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.
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Increase in innovations in software designs to speed up the mortgage-application process, lower costs for the lender, and need to improve the overall customer experience have boosted the growth of the global mortgage lending market. Based on region, North America accounted for the highest share in 2021, contributing to nearly half of the total market share, and is projected to continue its leadership status by 2030.
The report offers detailed segmentation of the global mortgage lending market based on type of mortgage loan, mortgage loan terms, interest rate, provider, and region. The report provides analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on type of mortgage loan, the conventional mortgage loans segment accounted for the highest share in 2021, contributing to nearly three-fourths of the total share, and is expected to maintain its leadership status during the forecast period. However, the jumbo loans segment is expected to manifest the highest CAGR of 13.7% from 2022 to 2031.
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Based on mortgage loan 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 dominance in terms of revenue by 2031. However, the 15-year mortgage segment is estimated to witness the largest CAGR of 13.7% during the forecast period.
On the basis of interest rate, the fixed-rate mortgage loan 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 loan segment is estimated to register the highest CAGR of 11.3% during the forecast period.
Based on provider, the primary mortgage lender segment held the largest share in 2021, accounting for nearly three-fourths of the market, and is expected to continue its dominance through 2031. However, secondary mortgage lender segment is expected to showcase the highest CAGR of 12.1% during the forecast period.
Based on region, North America accounted for the highest share in 2021, contributing to nearly half of the total market share, and is projected to continue its leadership status by 2030. However, Asia-Pacific is projected to portray the fastest CAGR of 13.2% during the forecast period.
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