Global Mortgage Brokerage Services Market Price 2024, Forecast To 2033
8 Oct, 2024
The mortgage brokerage services market size has expanded rapidly in recent years, projected to rise from $93.09 billion in 2023 to $102.55 billion in 2024, at a CAGR of 10.2%. This historical growth is driven by factors such as interest rate fluctuations, housing market trends, regulatory changes, economic growth, and shifting consumer demand. Looking forward, the market is expected to grow to $151.60 billion in 2028, with a CAGR of 10.3%. This growth can be attributed to rising housing demand, increased urbanization, low-interest rates, government incentives, and growing disposable incomes. Major trends in the forecast period will include AI-driven mortgage processing, blockchain technology for secure transactions, automated underwriting systems, virtual property tours, and advanced data analytics for customer insights.
Global Mortgage Brokerage Services Market Key Driver
The growing demand for personalized financial guidance is projected to boost the mortgage brokerage services market in the future. Personalized financial guidance entails strategies and solutions tailored to an individual's specific financial needs and goals. This demand is rising due to various factors, including interest rates, inflation, economic growth, increasing market complexity, and technological advancements. Mortgage brokerage services serve as intermediaries between borrowers and lenders, offering customized advice based on individual financial situations and long-term objectives. According to the U.S. Bureau of Labor Statistics, a US-based government agency, the employment of personal financial advisors is expected to increase by 13% from 327,600 in 2022 to 42,000 in 2032, significantly outpacing the average growth rate for all occupations. Consequently, the growing demand for personalized financial guidance is a driving force behind the mortgage brokerage services market.
Get A Free Sample Of The Mortgage Brokerage Services Market ReportGlobal Mortgage Brokerage Services Market Segments
The mortgage brokerage services market covered in this report is segmented –
1) By Interest Rate: Fixed Rate, Floating Rate
2) By Distribution Channel: Online, Offline
3) By Application: Residential Property Loans, Commercial Property Loans
4) By End User: Individuals, Businesses
By Geography:The regions covered in the mortgage brokerage services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the mortgage brokerage services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
Major Mortgage Brokerage Services Industry Players
JPMorgan Chase & Co, Federal National Mortgage Association, Wells Fargo Bank N.A., Fairway Independent Mortgage Corporation, Rocket Mortgage, Homebridge Financial Services Inc, Mr. Cooper Group Inc, PennyMac Financial Services Inc, Guild Mortgage Company, Caliber Home Loans Inc, Movement Mortgage LLC, American Pacific Mortgage Corporation, LendingTree Inc, PrimeLending A PlainsCapital Company, Loan Factory Inc, Union Home Mortgage Corp, CitiMortgage Inc, Morty Inc, A-M-S Mortgage Services Inc, Counsel Mortgage Group LLC, New American Funding Inc, Sierra Pacific Mortgage Company Inc.
Purchase The Global Mortgage Brokerage Services Market Report Directly And Get A Swift Delivery
Mortgage Brokerage Services Market Overview
Mortgage brokerage services refer to the intermediary functions performed by mortgage brokers, who connect borrowers seeking mortgage loans with lenders. These services are essential in the real estate financing process, as brokers facilitate the entire loan application and approval process without using their funds.
Mortgage Brokerage Services Global Market Report 2023 provides data on the global mortgage brokerage services market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The mortgage brokerage services market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.