Residential Mortgage Market is Expected to Grow at a CAGR of 11.3% Over the Next 7 Years (2024-2031) | Wells Fargo Home Mortgage, Rocket Mortgage, JP Morgan Chase

Global Residential Mortgage Market reached US$ 11.2 billion in 2022 and is expected to reach US$ 26.5 billion by 2030, growing with a CAGR of 11.3% during the forecast period 2024-2031.

Residential Mortgage Market analysis, according to DataM Intelligence, offers more than just an overview, it investigates the underlying aspects of the sector. The study provides an overview, the research explores the hidden aspects of the sector, breaking down its intricate dynamics, charting regional dominance, spotting demand patterns, and spotting prospective breakthroughs that could influence how businesses operate in the future.

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The Residential Mortgage market report majorly focuses on market trends, historical growth rates, technologies, and the changing investment structure. Additionally, the report shows the latest market insights, increasing growth opportunities, business strategies, and growth plans adopted by major players. Moreover, it contains an analysis of current market dynamics, future developments, and Porter's Five Forces Analysis.

A residential mortgage is a loan secured by a residential property, typically used by individuals or families to purchase, refinance, or renovate a home. The borrower agrees to repay the loan amount, along with interest, over a specified period through regular installments. The property itself serves as collateral, and failure to meet repayment terms can result in foreclosure. Residential mortgages are a common financial instrument offered by banks, credit unions, and other lending institutions, with varying terms, interest rates, and repayment options.Forecast Growth Projected:

The Global Residential Mortgage Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

List of the Key Players in the Residential Mortgage Market:

Wells Fargo Home Mortgage, Rocket Mortgage, JP Morgan Chase, Bank of America Home Loans, U.S. Bank Home Mortgage, CitiMortgage, PNC Mortgage, SunTrust Mortgage, Freedom Mortgage and PennyMac Loan Services.

Segment Covered in the Residential Mortgage Market:

By Type: Fixed-Rate Mortgage (FRM), Adjustable-Rate Mortgage (ARM), FHA Loan, VA Loan, Jumbo Loan, Conventional Loan

By Provider: Banks, Credit Unions, Online Lenders, Non-Bank Lenders, Mortgage Companies, Savings and Loan Associations, Government Agencies

Industry Development:

LendInvest Launches Nationwide Residential Mortgage Range (July 2023)

LendInvest, a leading player in the lending industry, expanded its presence in the UK mortgage market by launching a nationwide range of residential mortgage products. This significant move not only marks a major milestone for the company but also represents a noteworthy development for the industry. It allows all UK intermediaries to access LendInvest's newly introduced residential mortgage offerings via their online platform.

Intercontinental Exchange (ICE) Launches Mortgage Futures Contracts (June 2023)

Intercontinental Exchange, Inc. (ICE), a global provider of data, technology, and market infrastructure, introduced its first mortgage futures contracts in June 2023. These two cash-settled contracts are based on the ICE U.S. Conforming 30-year Fixed Mortgage Rate Lock Index and the ICE U.S. Jumbo 30-year Fixed Mortgage Rate Lock Index. Updated daily, the indices track U.S. residential mortgage loan applications where interest rates are locked before closing. The introduction of these futures contracts provides investors with a more accurate tool to hedge exposure to U.S. residential mortgage rates, surpassing previous options.

Guild Mortgage Launches 1% Down Payment Advantage Program (June 2023)

Guild Mortgage introduced its innovative 1% Down Payment Advantage program, designed to improve homeownership accessibility in the current housing market. Traditionally, a 3% down payment is required for conventional loans. However, this program allows prospective homebuyers to secure a home with only a 1% down payment, with Guild covering the remaining 2%, effectively fulfilling the 3% requirement.

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Regional Break out:

The global Residential Mortgage Market report focuses on six major regions: North America, South America, Europe, Asia Pacific, the Middle East, and Africa.

☞ North America - US, Canada, Mexico

☞ Europe- Germany, Russia, UK, France, Italy, Rest of Europe

☞ Asia Pacific- China, India, Japan, Australia, Rest of Asia Pacific

☞ South America- Brazil, Argentina, Colombia, Rest of South America

☞ Middle East and Africa- Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait, Israel

Chapter Outline:

Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.

Chapter 2: key insights, key emerging trends, etc.

Chapter 3: Manufacturers competitive analysis, detailed analysis of Residential Mortgage manufacturers competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.

Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product revenue, gross margin, product introduction, recent development, etc.

Chapter 5 & 6: Revenue of Residential Mortgage in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and market size of each country in the world.

Chapter 7: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 8: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.

Chapter 10: The main points and conclusions of the report.

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Frequently asked questions:

➠ What is the global sales value, production value, consumption value, import and export of Residential Mortgage market?

➠ Who are the global key manufacturers of the Residential Mortgage Industry? How is their operating situation (capacity, production, sales, price, cost, gross, and revenue)?

➠ What are the Residential Mortgage market opportunities and threats faced by the vendors in the global Residential Mortgage Industry?

➠ Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application?

➠ What focused approach and constraints are holding the Residential Mortgage market?

➠ What are the different sales, marketing, and distribution channels in the global industry?

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