Mortgage/Loan Broker Market Size Analysis to 2031
The mortgage/loan broker market size is expected to grow from US$ 297.3 billion in 2023 to US$ 931.24 billion by 2031; it is anticipated to expand at a CAGR of 15.3% from 2023 to 2031. The mortgage/loan broker market trends include favorable regulations, the busy lifestyle of customers, and the demand for cost-effective services.
Mortgage/Loan Broker Market Analysis
The mortgage/loan broker industry is embracing digitalization to enhance its customer's services and expand its global reach. This includes the loan brokers having better access to a large number of lenders, which increases customers to get good loan deals. The growing need to save time and effort is expected to drive the mortgage/loan broker market growth during the forecast period.
Mortgage/Loan Broker Industry Overview
- A mortgage/loan broker is a specialist who serves as an intermediary between lenders and companies. Lenders are the person who authorizes loans and companies are the group of persons looking to borrow money.
- A mortgage/loan broker offers a variety of loans from different lenders to borrowers. Brokers search for the best financial rates and terms demanded by their customers for new products or business launches. They bargain with lenders to secure loan approval or find other appropriate options.
- The growing need for loans among customers across the globe is driving the market growth during the forecast period.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Mortgage/Loan Broker Market: Strategic Insights
Market Size Value in US$ 297.3 billion in 2023 Market Size Value by US$ 931.24 billion by 2031 Growth rate CAGR of 15.3% from 2023 to 2031 Forecast Period 2023-2031 Base Year 2023
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Mortgage/Loan Broker Market: Strategic Insights
| Market Size Value in | US$ 297.3 billion in 2023 |
| Market Size Value by | US$ 931.24 billion by 2031 |
| Growth rate | CAGR of 15.3% from 2023 to 2031 |
| Forecast Period | 2023-2031 |
| Base Year | 2023 |
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Mortgage/Loan Broker Market Drivers and Opportunities
Mortgage/Loan Broker Save Efforts and Time of Borrowers
- Mortgage/loan brokers help customers identify the best lenders with lower interest rates, which saves time and provides a great deal to work. Mortgage/loan brokers have regular contact, and they frequently communicate with lenders related to the offers, find an ideal lender, and save time for their clients. Furthermore, they handle all loan-related documentation, which also promotes effort and time-saving. Thus, driving the market during the forecast period.
- Additionally, the consumers don't need to worry about any of the loan-related legal work due to the availability of the right broker, which is capable of effectively handling all the legislative documentation work.
Mortgage/Loan Broker Market Report Segmentation Analysis
- Based on application, the mortgage/loan broker market is segmented into home loans, commercial and industrial loans, vehicle loans, loans to governments, and others.
- The home loans segment is anticipated to hold a significant mortgage/loan broker market share by 2030. Home is most prominent goal for many individuals and families, which encourages individuals to save up for a down payment or qualify for a mortgage. The growing demand for homes increases the need for residential property loans among individuals worldwide is fueling the segment.
Mortgage/Loan Broker Market Share Analysis By Geography
The scope of the mortgage/loan broker market report is primarily divided into five regions - North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is experiencing rapid growth and is anticipated to hold a significant mortgage/loan broker market share. The presence of a large number of service providers such as Bank of America Corp; Royal Bank of Canada; Truist Financial Corp; PennyMac Loan Services, LLC; Qatar National Bank; and Standard Chartered Bank Ltd; among others. These players are continuously engaged in providing loans at low rates. Moreover, the improving macroeconomic situation and growing capital markets are fueling the market during the forecast period.
Mortgage/Loan Broker Market Report Scope
The "Mortgage/Loan Broker Market Analysis" was carried out based on enterprise size, application, end-user, and geography. In terms of enterprise size, the mortgage/loan broker market is categorized into large enterprises and small and small enterprises (SMEs). On the basis of application, the market is segregated into home loans, commercial and industrial loans, vehicle loans, loans to governments, and others. Based on end-user, the mortgage/loan broker market is segmented into businesses and individuals. By region, the mortgage/loan broker market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).
Mortgage/Loan Broker Market News and Recent Developments
The mortgage/loan broker market forecast is estimated based on various secondary and primary research findings, such as key company publications, association data, and databases. Companies adopt inorganic and organic strategies such as mergers and acquisitions in the mortgage/loan broker market. A few recent key market developments are listed below:
- In March 2024, BCA offers a special interest rate of 2.67% for mortgages to new families looking for a home. [Source: BCA, Company Website]
- In November 2023, China Zheshang Bank and Bank Sinopac acted as green loan coordinators on club loan facilities of US$ 1.33 (RMB 1.24) billion for Gaw Capital-managed assets. [Source: Gaw Capital Partners, Company Website]
- In May 2023, JPMorgan Chase & Co acquired assets of First Republic Bank from the Federal Deposit Insurance Corporation (FDIC) to advance their wealth strategy. JPMorgan Chase & Co acquired the substantial majority of shares of approximately US$ 173 billion of loans and approximately $30 billion of securities. [Source: JPMorgan Chase & Co, Company Website]
- February 2023, Qatar National Bank announced a commitment of US$ 3 million of first mortgage funding to low-to-moderate income individuals through its QNB Housing Opportunity Program. [Source: Qatar National Bank, Company Website]
- In August 2022, Bank of America Corp announced a new mortgage solution for first-time homebuyers that offers a bank-provided down payment and no closing costs. The Community Affordable Loan Solution is available for properties in Black/African American and Hispanic-Latino communities, as defined by the U.S. Census, in Charlotte, Dallas, Detroit, Los Angeles, and Miami. [Source: Bank of America Corp, Company Website]
- In January 2022, PennyMac Loan Services, LLC announced the changing name of its broker direct division to Pennymac TPO. The company helps its broker and non-delegated correspondent partners find new ways to grow their businesses by extending their expertise, resources, and power. The company is planning to debut POWER+, a next-generation technology platform that gives brokers more speed, control and access to expert advice, guidance, and real-time engagement that enable them to deliver a great experience to their customers and referral partners. [Source: PennyMac Loan Services, LLC, Company Website]
Mortgage/Loan Broker Market Report Coverage & Deliverables
The market report on “Mortgage/Loan Broker Market Size and Forecast (2021–2031)”, provides a detailed analysis of the market covering below areas-
- Market size & forecast at global, regional, and country- level for all the key market segments covered under the scope.
- Market dynamics such as drivers, restraints, and key opportunities.
- Key future trends.
- Detailed PEST & SWOT analysis
- Global and regional market analysis covering key market trends, key players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, key players, recent developments.
- Detailed company profiles.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Enterprise Size, Application, End-user, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Rising demand for homeownership, complexity of mortgage products, and growing digitalization are the major factors that propel the global mortgage/loan broker market.
The key players holding majority shares in the global mortgage/loan broker market are Bank of America Corp; Royal Bank of Canada; BNP Paribas SA; Truist Financial Corp; and PennyMac Loan Services, LLC;
The global mortgage/loan broker market is expected to reach US$ 931.24 billion by 2031.
Favorable regulations and the busy lifestyle of customers are impacting the mortgage/loan broker, which is anticipated to play a significant role in the global mortgage/loan broker market in the coming years.
The global mortgage/loan broker market was estimated to be US$ 297.33 billion in 2022 and is expected to grow at a CAGR of 15.3% during the forecast period 2023 - 2031.
- Bank of America Corp
- Royal Bank of Canada
- BNP Paribas SA
- Truist Financial Corp
- Mitsubishi UFJ Financial Group Inc
- PennyMac Loan Services, LLC
- Qatar National Bank
- Standard Chartered Bank Ltd
- JPMorgan Chase & Co
- Ally Financial Inc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Get Free Sample For