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Surging Housing Costs Fueling Growth In Household Lending Market: Critical Driver Shaping the Household Lending Market in 2025
Household Lending
Household Lending Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
Over the past few years, there has been a robust growth in the size of the household lending market. The projection is a rise from $5039.6 billion in 2024 up to $5535.2 billion in 2025, marking a compound annual growth rate (CAGR) of 9.8%. Factors that have contributed to the growth during the historic period include interest rates, monetary policy, state of the economy and employment trends. Additionally, government policies, housing programmes, consumer spending habits and confidence, risk appetite as well as credit market conditions have also played a significant role.
Household Lending Market Size Forecast: What's the Projected Valuation by 2029?
The size of the household lending market is projected to undergo robust expansion in the next few years. It is estimated that it will escalate to $8064.37 billion in 2029, with a compound annual growth rate (CAGR) of 9.9%. The anticipated growth during this period can be credited to demographic changes and population movements, shifts in societal financial habits, worldwide economic factors, and trade trends, along with innovations in loan offerings and frameworks. The forecast period is expected to observe trends such as the adoption of alternative credit score methods, the move towards securitizing household loans, the introduction of open banking systems, an emphasis on responsible and ethical lending, and the incorporation of blockchain technologies.
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What Are the Drivers Transforming the Household Lending Market?
An anticipated surge in the cost of housing is predicted to fuel the expansion of the domestic lending industry in the near future. The term housing expenses encompasses rent and mortgage payments, encompassing both principal repayment and mortgage interest. A broader definition also includes obligatory service and charge costs, regular upkeep and repair expenses, taxes, and utility bills. The escalation in housing prices constrains a person's ability to fully purchase a house with cash, incentivizing them to borrow. Hence, the escalating housing costs are stimulating the household lending market's growth. For example, data from the Federal Housing Finance Agency, an independent federal entity in the US functioning as the regulatory replacement for the Federal Housing Finance Board, indicates that from the third quarter of 2021 to 2022, the price of homes in the United States rose by 12.4%. This was a slight uptick of 0.1 percent compared to the second quarter of 2022. Consequently, this steep rise in housing costs is a key driver for the household lending market.
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What Long-Term Trends Will Define the Future of the Household Lending Market?
Leading businesses in the domestic lending sector are channeling their efforts towards creation of inventive solutions like wholly online residential loans to make the loaning process smoother. Fully digital home loans entail an entirely web-based procedure for applications, approvals, and administration of a house loan, eliminating the need for paper documentation and face-to-face discussions. For instance, the ANZ Banking Group, a financial establishment headquartered in Australia, introduced a remarkable product in November 2023, a full-on digital home loan for qualified residents of metropolitan areas in New South Wales and Victoria, looking to refinance. Launched via their ANZ Plus mobile app, it promises faster approvals, often within minutes, coupled with upfront property value estimates. The loan process is simplified, with a competitive variable interest rate of 6.14%, making it easy for users to monitor their applications.
Which Segments in the Household Lending Market Offer the Most Profit Potential?
The household lending market covered in this report is segmented -
1) By Types: Fixed Rate Loans, Home Equity Line Of Credit
2) By Service Providers: Banks, Online, Credit Union, Other Service Providers
3) By Source: Mortgage And Credit Union, Commercial Banks, Other Sources
4) By Interest Rate: Fixed-Rate Mortgage Loan, Adjustable-Rate Mortgage Loan
Subsegments:
1) By Fixed Rate Loans: Conventional Fixed Rate Mortgages, FHA Fixed Rate Loans, VA Fixed Rate Loans, USDA Fixed Rate Loans
2) By Home Equity Line Of Credit (HELOC): Variable Rate HELOC, Fixed Rate HELOC, Interest-Only HELOC
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Which Firms Dominate the Household Lending Market by Market Share and Revenue in 2025?
Major companies operating in the household lending market include Bank of America Corporation, JPMorgan Chase & Co., Pentagon Federal Credit Union, Discover Financial Services Inc., LoanDepot.com LLC, Spring EQ LLC, Australia and New Zealand Banking Group Limited, Barclays plc, Citizens Commerce Bancshares Inc., Commonwealth Bank of Australia, Flagstar Bancorp Inc., HSBC Holdings plc, Navy Federal Credit Union, Roostify Inc., Royal Bank of Canada, Alltru Credit Union, American Express Company, Earnest Inc., Figure Technologies Inc., Even Financial Inc., First Tech Federal Credit Union, Happy Money Inc., Kikoff Inc., Klarna Bank AB, LendingClub Corporation, LendingUSA LLC, Mission Lane LLC, The Goldman Sachs Group Inc., Mariner Finance LLC, MoneyKey Inc., MoneyLion Inc., M&T Bank Corporation, Enova International Inc., OneMain Financial Holdings Inc., Oportun Inc., OppFi Inc., Peerform Inc., PNC Financial Services Group Inc., Prosper Marketplace Inc.
Which Regions Offer the Highest Growth Potential in the Household Lending Market?
North America was the largest region in the household lending market in 2024. The regions covered in the household lending market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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