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Refinancing Market Size, Share & Trends Analysis Report by Type (Fixed-rate Mortgage, Adjustable-rate Mortgage, Cash-out Refinancing), by Deployment (Cloud, On-premise), by End-use, by Region, and Segment Forecasts, 2022-2030

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    Report

  • 150 Pages
  • October 2022
  • Region: Global
  • Grand View Research
  • ID: 5681765

The global refinancing market size is expected to reach USD 34.04 billion by 2030, registering a CAGR of 7.5% from 2022 to 2030. The growth can be attributed to the better financing options offered by the refinancing solutions, coupled with benefits such as lower interest rates and a convenient process. On the other hand, borrower benefits from favorable terms of loans in a cash-out refinance, which would generally be useful for medical, debt payment, and investment for long-term savings.



Several refinancing solution providers are focusing on expanding their services to offer refinancing services efficiently. For instance, in March 2022, Better Holdco, Inc. announced the expansion of its mortgage services to the U.S. state of Hawaii, building upon the launch of Better Mortgage in the state of Massachusetts in November 2021. The company’s mortgage services are now available to almost 99% of the U.S. market, thereby facilitating real estate, mortgage, homeowner insurance, and title services while eliminating lender fees and commissions.

Moreover, the growth of the refinancing industry can be attributed to the benefits of refinancing for personal and commercial activities. According to Freddie Mac, borrowers could reduce mortgage payments by an average of 1.15% in 2021 by refinancing first-lien conventional mortgages, saving about USD 2,700 in mortgage payments annually. Such a reduction in mortgage payments is expected to create lucrative growth opportunities for the market over the forecast period.

The COVID-19 pandemic is expected to positively impact the growth of the industry. Several refinancing solution providers started expanding their loan capability to offer better services to customers. For instance, in October 2021, Caliber Home Loans, a financial service provider, announced an expansion of loan limits on conforming loans to USD 625,000 across its retail, wholesale, and direct-to-consumer channels. The previous limit was capped at USD 548,250, and expanding the limit would allow more borrowers to qualify for large loan amounts.

Refinancing Market Report Highlights

  • In terms of type, the adjustable-rate mortgage refinancing segment is anticipated to register the highest CAGR over the forecast period. The flexibility of adjustable-rate mortgage refinancing to be used as short and long-term refinancing instruments is expected to drive the segment’s growth
  • In terms of deployment, the on-premises segment dominated the market in 2021. The growing adoption of loan software systems for on-premise mortgage origination, including refinancing and management, is a significant factor driving the segment’s growth
  • In terms of end-use, the personal segment dominated in 2021. Borrowers are widely adopting refinancing services to reduce monthly payments in a lower interest rates environment
  • The presence of a large number of refinancing solution providers and government-sponsored enterprises in North America is expected to create lucrative growth opportunities for the regional industry

Table of Contents

Chapter 1 Methodology and Scope
1.1 Research Methodology
1.2 Research Scope and Assumptions
1.3 List of Data Sources
Chapter 2 Executive Summary
2.1 Refinancing Market - Industry Snapshot & Key Buying Criteria, 2017 - 2030
2.2 Global Refinancing Market, 2017 - 2030
2.2.1 Global refinancing market, by region, 2017 - 2030
2.2.2 Global refinancing market, by type, 2017 - 2030
2.2.3 Global refinancing market, by deployment, 2017 - 2030
2.2.4 Global refinancing market, by end-use, 2017 - 2030
Chapter 3 Refinancing Industry Outlook
3.1 Market Segmentation and Scope
3.2 Market Size and Growth Prospects
3.3 Refinancing Market - Value Chain Analysis
3.4 Refinancing Market - Market Dynamics
3.4.1 Market driver analysis
3.4.1.1 Ability to cash out a home equity
3.4.1.2 Financial benefits of refinancing a mortgage
3.4.2 Market challenge analysis
3.4.2.1 Costs associated with mortgage refinancing
3.4.3 Market opportunity analysis
3.4.3.1 Government refinancing instruments and initiatives
3.5 Penetration and Growth Prospect Mapping
3.6 Refinancing Market - Porter’s Five Forces Analysis
3.7 Refinancing Market - PESTEL Analysis
Chapter 4 Refinancing Type Outlook
4.1 Refinancing Market Share By Type, 2021
4.2 Fixed-rate Mortgage Refinancing
4.2.1 Refinancing market for a fixed-rate mortgage, 2017 - 2030
4.3 Adjustable-rate Mortgage Refinancing
4.3.1 Refinancing market for an adjustable-rate mortgage, 2017 - 2030
4.4 Cash-out Refinancing
4.4.1 Cash-out refinancing market, 2017 - 2030
4.5 Others
4.5.1 Others refinancing market, 2017 - 2030
Chapter 5 Refinancing Deployment Outlook
5.1 Refinancing Market Share By Deployment, 2021
5.2 Cloud
5.2.1 Cloud refinancing market, 2017 - 2030
5.3 On-premise
5.3.1 On-premise refinancing market, 2017 - 2030
Chapter 6 Refinancing End-use Outlook
6.1 Refinancing Market Share By End-use, 2021
6.2 Personal
6.2.1 Personal refinancing market, 2017 - 2030
6.3 Commercial
6.3.1 Commercial refinancing market, 2017 - 2030
Chapter 7 Refinancing Regional Outlook
7.1 Refinancing Market Share By Region, 2021
7.2 North America
7.2.1 North America refinancing market, 2017 - 2030
7.2.2 North America refinancing market, by type, 2017 - 2030
7.2.3 North America refinancing market, by deployment, 2017 - 2030
7.2.4 North America refinancing market, by end-use, 2017 - 2030
7.2.5 U.S.
7.2.5.1 U.S. refinancing market, 2017 - 2030
7.2.5.2 U.S. refinancing market, by type, 2017 - 2030
7.2.5.3 U.S. refinancing market, by deployment, 2017 - 2030
7.2.5.4 U.S. refinance market, by end-use, 2017 - 2030
7.2.6 Canada
7.2.6.1 Canada refinancing market, 2017 - 2030
7.2.6.2 Canada refinancing market, by type, 2017 - 2030
7.2.6.3 Canada refinancing market, by deployment, 2017 - 2030
7.2.6.4 Canada refinancing market, by end-use, 2017 - 2030
7.3 Europe
7.3.1 Europe refinancing market, 2017 - 2030
7.3.2 Europe refinancing market, by type, 2017 - 2030
7.3.3 Europe refinancing market, by deployment, 2017 - 2030
7.3.4 Europe refinancing market, by end-use, 2017 - 2030
7.3.5 U.K.
7.3.5.1 U.K. refinancing market, 2017 - 2030
7.3.5.2 U.K. refinancing market, by type, 2017 - 2030
7.3.5.3 U.K. refinancing market, by deployment, 2017 - 2030
7.3.5.4 U.K. refinance market, by end-use, 2017 - 2030
7.3.6 Germany
7.3.6.1 Germany refinancing market, 2017 - 2030
7.3.6.2 Germany refinancing market, by type, 2017 - 2030
7.3.6.3 Germany refinancing market, by deployment, 2017 - 2030
7.3.6.4 Germany refinancing market, by end-use, 2017 - 2030
7.4 Asia Pacific
7.4.1 Asia Pacific refinancing market, 2017 - 2030
7.4.2 Asia Pacific refinancing market, by type, 2017 - 2030
7.4.3 Asia Pacific refinancing market, by deployment, 2017 - 2030
7.4.4 Asia Pacific refinancing market, by end-use, 2017 - 2030
7.4.5 China
7.4.5.1 China refinancing market, 2017 - 2030
7.4.5.2 China refinancing market, by type, 2017 - 2030
7.4.5.3 China refinancing market, by deployment, 2017 - 2030
7.4.5.4 China refinance market, by end-use, 2017 - 2030
7.4.6 Japan
7.4.6.1 Japan refinancing market, 2017 - 2030
7.4.6.2 Japan refinancing market, by type, 2017 - 2030
7.4.6.3 Japan refinancing market, by deployment, 2017 - 2030
7.4.6.4 Japan refinancing market, by end-use, 2017 - 2030
7.4.7 India
7.4.7.1 India refinancing market, 2017 - 2030
7.4.7.2 India refinancing market, by type, 2017 - 2030
7.4.7.3 India refinancing market, by deployment, 2017 - 2030
7.4.7.4 India refinancing market, by end-use, 2017 - 2030
7.5 Latin America
7.5.1 Latin America refinancing market, 2017 - 2030
7.5.2 Latin America refinancing market, by type, 2017 - 2030
7.5.3 Latin America refinancing market, by deployment, 2017 - 2030
7.5.4 Latin America refinancing market, by end-use, 2017 - 2030
7.5.5 Brazil
7.5.5.1 Brazil refinancing market, 2017 - 2030
7.5.5.2 Brazil refinancing market, by type, 2017 - 2030
7.5.5.3 Brazil refinancing market, by deployment, 2017 - 2030
7.5.5.4 Brazil refinance market, by end-use, 2017 - 2030
7.6 MEA
7.6.1 MEA refinancing market, 2017 - 2030
7.6.2 MEA refinancing market, by type, 2017 - 2030
7.6.3 MEA refinancing market, by deployment, 2017 - 2030
7.6.4 MEA refinancing market, by end-use, 2017 - 2030
Chapter 8 Competitive Analysis
8.1 Recent Developments & Impact Analysis, By Key Market Participants
8.2 Company Categorization
8.3 Vendor Landscape
8.3.1 Company market share analysis, 2021
8.3.2 Vendor landscape
8.4 Company Analysis Tools
8.4.1 Company market position analysis
8.4.2 Competitive dashboard analysis
Chapter 9 Competitive Landscape
9.1 WELLS FARGO & COMPANY
9.1.1 Company overview
9.1.2 Financial performance
9.1.3 Product benchmarking
9.1.4 Strategic initiatives
9.2 Bank of America
9.2.1 Company overview
9.2.2 Financial performance
9.2.3 Product benchmarking
9.2.4 Strategic initiatives
9.3 ALLY FINANCIAL INC.
9.3.1 Company overview
9.3.2 Financial performance
9.3.3 Product benchmarking
9.3.4 Strategic initiatives
9.4 JP Morgan Chase & Co.
9.4.1 Company overview
9.4.2 Financial performance
9.4.3 Product benchmarking
9.4.4 Strategic initiatives
9.5 Rocket Companies, Inc.
9.5.1 Company overview
9.5.2 Financial performance
9.5.3 Product benchmarking
9.5.4 Strategic initiatives
9.6 Citigroup Inc.
9.6.1 Company overview
9.6.2 Financial performance
9.6.3 Product benchmarking
9.6.4 Strategic initiatives
9.7 RefiJet
9.7.1 Company overview
9.7.2 Product benchmarking
9.7.3 Strategic initiatives
9.8 Better Holdco, Inc.
9.8.1 Company overview
9.8.2 Product benchmarking
9.8.3 Strategic initiatives
9.9 loanDepot, Inc.
9.9.1 Company overview
9.9.2 Financial performance
9.9.3 Product benchmarking
9.10 Caliber Home Loans, Inc.
9.10.1 Company overview
9.10.2 Product benchmarking
9.10.3 Strategic initiatives
List of Tables
Table 1 Refinancing market-Industry snapshot & key buying criteria, 2017-2030
Table 2 Global refinancing market, 2017-2030 (USD Billion)
Table 3 Global refinancing market, by region, 2017-2030 (USD Billion)
Table 4 Global refinancing market, by type, 2017-2030 (USD Billion)
Table 5 Global refinancing market, by deployment, 2017-2030 (USD Billion)
Table 6 Global refinancing market, by end-use, 2017-2030 (USD Billion)
Table 7 Common refinancing cost items
Table 8 Refinancing market for a fixed-rate mortgage, 2017-2030 (USD Billion)
Table 9 Refinancing market for a fixed-rate mortgage, by region, 2017- 2030 (USD Billion)
Table 10 Refinancing market for adjusting Table-rate mortgage, 2017-2030 (USD Billion)
Table 11 Refinancing market for adjusting Table-rate mortgage, by region, 2017- 2030 (USD Billion)
Table 12 Cash-out refinancing market, 2017-2030 (USD Billion)
Table 13 Cash-out refinancing market, by region, 2017- 2030 (USD Billion)
Table 14 Other refinancing market, 2017-2030 (USD Billion)
Table 15 Others refinancing market, by region, 2017- 2030 (USD Billion)
Table 16 Cloud refinancing market, 2017-2030 (USD Billion)
Table 17 Cloud refinancing market, by region, 2017- 2030 (USD Billion)
Table 18 On-premise refinancing market, 2017-2030 (USD Billion)
Table 19 On-premise refinancing market, by region, 2017- 2030 (USD Billion)
Table 20 Personal refinancing market, 2017-2030 (USD Billion)
Table 21 Personal refinancing market, by region, 2017- 2030 (USD Billion)
Table 22 Commercial refinancing market, 2017-2030 (USD Billion)
Table 23 Commercial refinancing market, by region, 2017- 2030 (USD Billion)
Table 24 North America refinancing market, 2017-2030 (USD Billion)
Table 25 North America refinancing market, by type, 2017-2030 (USD Billion)
Table 26 North America refinancing market, by deployment, 2017-2030 (USD Billion)
Table 27 North America refinancing market, by end-use, 2017-2030 (USD Billion)
Table 28 U.S. refinancing market, 2017-2030 (USD Billion)
Table 29 U.S. refinancing market, by type, 2017-2030 (USD Billion)
Table 30 U.S. refinancing market, by deployment, 2017-2030 (USD Billion)
Table 31 U.S. refinance market, by end-use, 2017-2030 (USD Billion)
Table 32 Canada refinancing market, 2017-2030 (USD Billion)
Table 33 Canada refinancing market, by type, 2017-2030 (USD Billion)
Table 34 Canada refinancing market, by deployment, 2017-2030 (USD Billion)
Table 35 Canada refinancing market, by end-use, 2017-2030 (USD Billion)
Table 36 Europe refinancing market, 2017-2030 (USD Billion)
Table 37 Europe refinancing market, by type, 2017-2030 (USD Billion)
Table 38 Europe refinancing market, by deployment, 2017-2030 (USD Billion)
Table 39 Europe refinancing market, by end-use, 2017-2030 (USD Billion)
Table 40 U.K. refinancing market, 2017-2030 (USD Billion)
Table 41 U.K. refinancing market, by type, 2017-2030 (USD Billion)
Table 42 U.K. refinancing market, by deployment, 2017-2030 (USD Billion)
Table 43 U.K. refinance market, by end-use, 2017-2030 (USD Billion)
Table 44 Germany refinancing market, 2017-2030 (USD Billion)
Table 45 Germany refinancing market, by type, 2017-2030 (USD Billion)
Table 46 Germany refinancing market, by deployment, 2017-2030 (USD Billion)
Table 47 Germany refinancing market, by end-use, 2017-2030 (USD Billion)
Table 48 Asia Pacific refinancing market, 2017-2030 (USD Billion)
Table 49 Asia Pacific refinancing market, by type, 2017-2030 (USD Billion)
Table 50 Asia Pacific refinancing market, by deployment, 2017-2030 (USD Billion)
Table 51 Asia Pacific refinancing market, by end-use, 2017-2030 (USD Billion)
Table 52 China refinancing market, 2017-2030 (USD Billion)
Table 53 China refinancing market, by type, 2017-2030 (USD Billion)
Table 54 China refinancing market, by deployment, 2017-2030 (USD Billion)
Table 55 China refinance market, by end-use, 2017-2030 (USD Billion)
Table 56 Japan refinancing market, 2017-2030 (USD Billion)
Table 57 Japan refinancing market, by type, 2017-2030 (USD Billion)
Table 58 Japan refinancing market, by deployment, 2017-2030 (USD Billion)
Table 59 Japan refinancing market, by end-use, 2017-2030 (USD Billion)
Table 60 India refinancing market, 2017-2030 (USD Billion)
Table 61 India refinancing market, by type, 2017-2030 (USD Billion)
Table 62 India refinancing market, by deployment, 2017-2030 (USD Billion)
Table 63 India refinancing market, by end-use, 2017-2030 (USD Billion)
Table 64 Latin America refinancing market, 2017-2030 (USD Billion)
Table 65 Latin America refinancing market, by type, 2017-2030 (USD Billion)
Table 66 Latin America refinancing market, by deployment, 2017-2030 (USD Billion)
Table 67 Latin America refinancing market, by end-use, 2017-2030 (USD Billion)
Table 68 Brazil refinancing market, 2017-2030 (USD Billion)
Table 69 Brazil refinancing market, by type, 2017-2030 (USD Billion)
Table 70 Brazil refinancing market, by deployment, 2017-2030 (USD Billion)
Table 71 Brazil refinance market, by end-use, 2017-2030 (USD Billion)
Table 72 MEA refinancing market, 2017-2030 (USD Billion)
Table 73 MEA refinancing market, by type, 2017-2030 (USD Billion)
Table 74 MEA refinancing market, by deployment, 2017-2030 (USD Billion)
Table 75 MEA refinancing market, by end-use, 2017-2030 (USD Billion)
Table 76 Vendor landscape
List of Figures
Fig. 1 Market segmentation and scope
Fig. 2 Refinancing market, 2017-2030 (USD Billion)
Fig. 3 Refinancing market-Value chain analysis
Fig. 4 Refinancing market-Market dynamics
Fig. 5 Refinancing market-Key market driver impact
Fig. 6 Rise in repeat refinances (in percentage 2019-2020)
Fig. 7 Total home equity cashed out (in USD Billion 2018-2020)
Fig. 8 Borrowers using discount points (in percentage 2018-2020)
Fig. 9 Refinancing market-Key market challenge impact
Fig. 10 Refinancing market-Key market opportunity impact
Fig. 11 Refinancing activity by income quintile
Fig. 12 Key opportunities prioritized
Fig. 13 Refinancing market porter's five forces analysis
Fig. 14 Refinancing market-PESTEL analysis
Fig. 15 Refinancing market, by type, 2021
Fig. 16 Refinancing market, by deployment, 2021
Fig. 17 Refinancing market, by end-use, 2021
Fig. 18 Refinancing market, by region, 2021
Fig. 19 Refinancing market-Regional takeaways
Fig. 20 North America refinancing market-Key takeaways
Fig. 21 Europe refinancing market-Key takeaways
Fig. 22 Asia Pacific refinancing market-Key takeaways
Fig. 23 Latin America refinancing market-Key takeaways
Fig. 24 MEA refinancing market-Key takeaways
Fig. 25 Refinancing market-Company categorization
Fig. 26 Refinancing market-Company market share analysis, 2021
Fig. 27 Refinancing market-Company market position analysis, 2021
Fig. 28 Refinancing market-Competitive dashboard analysis
Fig. 29 The pie chart below displays the total revenue by operating segments (2021)
Fig. 30 The pie chart below displays the net income by business segments (2021)
Fig. 31 The pie chart below displays the net revenues by operating segments (2021)
Fig. 32 The pie chart below displays the revenue by segments (2021)
Fig. 33 The pie chart below displays the net revenues by business segments (2021)
Fig. 34 The pie chart below displays the net revenues by business segments (2021)

Companies Mentioned

  • Wells Fargo & Company
  • Bank of America
  • Ally Financial Inc.
  • JP Morgan Chase & Co.
  • Rocket Companies, Inc.
  • Citigroup Inc.
  • Refijet
  • Better Holdco, Inc.
  • Loandepot, Inc.
  • Caliber Home Loans, Inc.

Methodology

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Table Information