Global Mortgage Lending Market Report to 2031 - Featuring BNP Paribas, Qatar National Bank, Rocket Mortgage and Sofi Among Others - ResearchAndMarkets.com
The "Mortgage Lending Market By Type of Mortgage Loan, By Mortgage Loan Terms, By Interest Rate, By Provider: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
According to this report the mortgage lending market was valued at $11,487.23 billion in 2021, and is estimated to reach $27,509.24 billion by 2031, growing at a CAGR of 9.5% from 2022 to 2031.
A mortgage loan, often known as a mortgage, is a loan utilized by either real estate buyers or current property owners to acquire money for any purpose while enforcing a lien on the real estate being mortgaged. In addition, a mortgage is a loan provided by a bank or other financial organization to aid in the purchase of a house. The actual house is the mortgage's collateral. In other words, if the borrower stops paying the lender on a regular basis and defaults on the loan, the lender can sell the house to recuperate its losses.
To speed up and simplify the front-to-back-end mortgage application process for customers, the mortgage sector has been steadily implementing technology. In addition, the availability of mortgage services on smartphones applications for underwriting processes is boosting the growth of the market.
However, higher interest rates on mortgages loans and higher fees for mortgage broker are some of the factors that hamper the market growth. On the contrary, adoption of APIs and open banking in mortgage lending industry is expected to boost the market growh in upcoming years. Moreover, increasing implementation of artificial intelligence (AI) and machine learning (ML) for automation of underwriting and application processes is anticipated to create lucrative opportunities for the market to grow in future.
Key Market Segments
By Type of Mortgage Loan
By Mortgage Loan Terms
By Interest Rate
Key Market Players
For more information about this report visit https://www.researchandmarkets.com/r/lipy2k
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