Mortgage Application in the United States increased by 9.40 percent in the week ending July 4 of 2025 over the previous week. This dataset provides - United States MBA Mortgage Applications - actual values, historical data, forecast, chart, statistics, economic calendar and news.

With the digitalization trend picking pace across the world, the global e-Mortgage market is set to gain from this phenomenon and jump from a value of US$ 12.1 billion in 2024 to US$ 62.1 billion by 2034, expanding at a CAGR (compound annual growth rate) of 17.8% over the next ten years.

Report Attributes	Details
e-Mortgage Market Size (2024E)	US$ 12.1 Billion
Forecasted Market Value (2034F)	US$ 62.1 Billion
Global Market Growth Rate (2024 to 2034)	17.8% CAGR
Japan Market Growth Rate (2024 to 2034)	19.2% CAGR
East Asia Market Share (2034F)	26%
Market Share of Residential Sector (2034F)	62%
Key Companies Profiled	Cimmaron AmoCRM Encompass BNTouch Floify LLC HubSpot ICE Mortgage Technology, Inc. Maxwell Financial Labs, Inc. Keap Pipedrive Simple Nexus Zendesk Sell Unify Total Expert Whiteboard Velocity LoanEngage Podium MLO Shift TeamSupport Salesforce

Country-wise Insights

Attribute	United States
Market Value (2024E)	US$ 1.8 Billion
Growth Rate (2024 to 2034)	17.5% CAGR
Projected Value (2034F)	US$ 8.9 Billion

Attribute	China
Market Value (2024E)	US$ 1.4 Billion
Growth Rate (2024 to 2034)	18.7% CAGR
Projected Value (2034F)	US$ 7.7 Billion

Category-wise Insights

Attribute	Residential
Segment Value (2024E)	US$ 7.8 Billion
Growth Rate (2024 to 2034)	17.2% CAGR
Projected Value (2034F)	US$ 38.5 Billion

Mortgage Approvals in the United Kingdom increased to 63.03 Thousand in May from 60.66 Thousand in April of 2025. This dataset provides the latest reported value for - United Kingdom Mortgage Approvals - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Revenue growth for the Finance and Insurance sector has varied in recent years, as a result of differing economic trends. The sector plays a vital role in facilitating necessary financial transactions between consumers, businesses and government agencies. The core services provided by operators in this sector include providing insurance products needed by businesses and consumers to legally operate corporations and assets; offering, borrowing and depository services needed to finance new projects and safely save money; and investing to create and preserve investors' assets. A wide range of operators in the sector benefited from improving macroeconomic conditions over the past five years. For example, In 2022, the Fed increased interest rates in an effort to curb historically high inflation. Although higher interest rates increased investment income from fixed-income securities for the finance and insurance sector. Recently in 2024, the Fed cut interest rates as inflationary pressured have eased. Reduced interest rates will enable consumers to borrow money at lower interest rates which will increase loan demand although reduced rates will hinder investment income from fixed-income securities for the sector. The Fed is anticipated to cut rates further in 2025, boosting loan demand but hindering interest income from each loan. In addition, the growing prevalence of emerging technologies such as AI and data analytic tools has streamlined operations and helped reduce operational costs. These tools help industry companies identify trends and potential risks more efficiently. Also the growth of mobile and digital platforms has increased customer satisfaction and accessibility, boosting demand for finance and insurance products and services. Over the past five years, industry revenue grew at a CAGR of 3.8% to $7.4 trillion, including a 2.9% jump in 2025 alone, with profit climbing to 23.6% in the same year. Sector revenue will increase at a CAGR of 2.5% to $8.4 trillion over the five years to 2030. As the economy continues to improve, per capita disposable income is expected to increase. This will likely lead to increased financial activity by consumers, which will likely be processed and facilitated by operators in the sector. The Federal Reserve is also anticipated to cut interest rates further. Reduced interest rates will reduce interest income for operators but will increase the volume of loans. In addition, the acquisition of financial technology start-ups to compete in a changing technological and financial environment will increase.

The number of home sales in the United States peaked in 2021 at almost ************* after steadily rising since 2018. Nevertheless, the market contracted in the following year, with transaction volumes falling to ***********. Home sales remained muted in 2024, with a mild increase expected in 2025 and 2026. A major factor driving this trend is the unprecedented increase in mortgage interest rates due to high inflation. How have U.S. home prices developed over time? The average sales price of new homes has also been rising since 2011. Buyer confidence seems to have recovered after the property crash, which has increased demand for homes and also the prices sellers are demanding for homes. At the same time, the affordability of U.S. homes has decreased. Both the number of existing and newly built homes sold has declined since the housing market boom during the coronavirus pandemic. Challenges in housing supply The number of housing units in the U.S. rose steadily between 1975 and 2005 but has remained fairly stable since then. Construction increased notably in the 1990s and early 2000s, with the number of construction starts steadily rising, before plummeting amid the infamous housing market crash. Housing starts slowly started to pick up in 2011, mirroring the economic recovery. In 2022, the supply of newly built homes plummeted again, as supply chain challenges following the COVID-19 pandemic and tariffs on essential construction materials such as steel and lumber led to prices soaring.

Mortgage rates increased at a record pace in 2022, with the 10-year fixed mortgage rate doubling between March 2022 and December 2022. With inflation increasing, the Bank of England introduced several bank rate hikes, resulting in higher mortgage rates. In May 2025, the average 10-year fixed rate interest rate reached **** percent. As borrowing costs get higher, demand for housing is expected to decrease, leading to declining market sentiment and slower house price growth. How have the mortgage hikes affected the market? After surging in 2021, the number of residential properties sold declined in 2023, reaching just above *** million. Despite the number of transactions falling, this figure was higher than the period before the COVID-19 pandemic. The falling transaction volume also impacted mortgage borrowing. Between the first quarter of 2023 and the first quarter of 2024, the value of new mortgage loans fell year-on-year for five straight quarters in a row. How are higher mortgages affecting homebuyers? Homeowners with a mortgage loan usually lock in a fixed rate deal for two to ten years, meaning that after this period runs out, they need to renegotiate the terms of the loan. Many of the mortgages outstanding were taken out during the period of record-low mortgage rates and have since faced notable increases in their monthly repayment. About **** million homeowners are projected to see their deal expire by the end of 2026. About *** million of these loans are projected to experience a monthly payment increase of up to *** British pounds by 2026.

Credit unions have experienced growth in recent years, stemming from increased membership and elevated interest rates throughout the period. The industry experienced improving macroeconomic conditions over the past five years, credit unions benefitted from increased consumer borrowing. Although at the onset of the period the industry was negatively impacted by economic volatility. Economic uncertainty led consumers to limit spending, while interest rates declined because the Federal Reserve lowered the Federal Funds Rate to the zero-bound range. Revenue climbed marginally by 0.2% in 2020. However, as the Federal Reserve raised interest rates in an attempt to curb inflation in 2022, industry revenue benefited. The industry experienced greater interest income demand although loan volumes were limited. However, in the latter part of the period the Fed slashed interest rates as inflationary pressures eased, hindering interest income but boosting loan demand volumes. Overall, industry revenue swelled at a CAGR of 2.1% to $113.1 billion over the past five years, including a 1.6% jump in 2025 alone. Industry profit has also climbed due to greater interest income revenue and will comprise 19.9% of revenue in 2025. Changes in the regulatory environment have and will continue to shape the direction of this industry. Greater demand for credit unions increases their systemic importance to the overall economy. These intermediaries are federally insured, so any liquidity crisis requiring federal intervention would burden taxpayers. Legislation dictating stricter capital requirements has been passed under the National Credit Union Association's Risk-Based Capital Final Rule despite lobbying and opposition. Despite an intensified regulatory landscape, industry revenue is expected to expand at a CAGR of 0.8% to $118.0 billion over the five years to 2030. As the economy settles back to normal, consumer borrowing activity is expected to mount. The industry is also likely to endure greater competition from commercial banks, as their improving customer satisfaction threatens credit union membership. Despite this challenge, credit unions are expected to continue to receive strong demand for mortgages as the rate of a 30-year conventional mortgage is expected to decline over the next five years.

Auto leasing, loans and sales financing is comprised of establishments that provide sales financing or leasing in combination with sales financing for automobiles. During the period, growth in consumer spending drove demand for these services, while a rising prime rate drove up the cost of (and therefore revenue generated by) industry services, resulting in revenue growth. The industry experienced declines in revenue at the onset of the period as it faced depressed consumer demand and a lower prime rate due to the pandemic. The industry returned to growth in 2023 as consumer spending climbed and the prime rate was raised to combat inflation. Key economic indicators, particularly strong demand to replace aging vehicles, boded well for financiers over the past couple of years. The economic downturn at the onset of the period caused consumers to postpone large capital purchases like automobiles, which reduced demand for industry services in the same year. Revenue rebounded in 2023 as access to credit climbed. Higher interest rates in the latter part of the period limited the growth in demand for auto loans. Although in 2024, the Fed cut interest rates as inflationary pressures eased, which will boost loan demand for automobiles. In addition, the Fed is anticipated to cut rates further in 2025 which will further boost demand for automobile loans. Overall, over the past five years, industry revenue has grown at a CAGR of 2.1% to reach $172.0 billion, including a 1.5% decline in 2025 alone. Industry profit has declined over the past five years and will account for 23.9% of revenue in 2025. Growth at the onset of the outlook period will likely be limited. The Federal Reserve is anticipated to cut rates further in the latter part of the period as inflationary pressures continue to ease. Lower interest rates will provide a boost for industry services as demand for new auto loans and leases is expected to jump. In addition, the improving economic trends in access to credit, consumer confidence and rising levels of disposable income levels will provide a boost to industry revenue as consumers will be better able to afford higher-priced automobiles and new cars. Overall, industry revenue is expected to climb at a CAGR of 1.5% to $185.0 billion over the five years to 2030.

The industry has largely continued on its long-term trajectory of decline over the last five years. The industry continues to lose market share to more dynamic commercial banks as well as financial technology companies. The industry received tailwinds from regulations and the real estate market as a result of the recovering economy and low interest rates related to the pandemic at the onset of the period, limiting the industry's overall decline. However, interest rates were raised significantly by the Federal Reserve following the pandemic to tackle rampant inflation, which attracted customers to low-risk and high-yield savings accounts. However, in 2024, the Federal Reserve cut interest rates as inflationary pressures eased and is anticipated to cut rates further in the near future, limiting demand for industry services. Savings institutions' revenue has lagged at a CAGR of 1.4% to $73.2 billion over the past five years, including an expected jump of 0.9% in 2024 alone. The main story of this industry over the last five years has been interest rate fluctuations. The Federal Reserve lowered rates to near-zero to save the economy from the global shutdowns and general fear. Lowered rates reduced interest income from deposits, but increased revenue related to the fervorous real estate market. In 2022, the Federal Reserve reversed course and began hiking rates to control inflation. This had the inverse effects of low rates. The Federal Reserve cut interest rates in 2024 but interest rates remain elevated. Although, reduced rates will decrease interest income from deposits but increase demand from real estate-related financial products. Decreased regulatory oversight and a broad-based economic recovery are expected to drive some industry growth in the next five years. Savings institutions' revenue is expected to grow at a CAGR of 0.9% to $76.7 billion over the five years to 2029.

The average sales price of new homes in the United States experienced a slight decrease in 2024, dropping to 512,2000 U.S. dollars from the peak of 521,500 U.S. dollars in 2022. This decline came after years of substantial price increases, with the average price surpassing 400,000 U.S. dollars for the first time in 2021. The recent cooling in the housing market reflects broader economic trends and changing consumer sentiment towards homeownership. Factors influencing home prices and affordability The rapid rise in home prices over the past few years has been driven by several factors, including historically low mortgage rates and increased demand during the COVID-19 pandemic. However, the market has since slowed down, with the number of home sales declining by over two million between 2021 and 2023. This decline can be attributed to rising mortgage rates and decreased affordability. The Housing Affordability Index hit a record low of 98.1 in 2023, indicating that the median-income family could no longer afford a median-priced home. Future outlook for the housing market Despite the recent cooling, experts forecast a potential recovery in the coming years. The Freddie Mac House Price Index showed a growth of 6.5 percent in 2023, which is still above the long-term average of 4.4 percent since 1990. However, homebuyer sentiment remains low across all age groups, with people aged 45 to 64 expressing the most pessimistic outlook. The median sales price of existing homes is expected to increase slightly until 2025, suggesting that affordability challenges may persist in the near future.

House prices grew year-on-year in most states in the U.S. in the third quarter of 2024. The District of Columbia was the only exception, with a decline of ***** percent. The annual appreciation for single-family housing in the U.S. was **** percent, while in Hawaii—the state where homes appreciated the most—the increase exceeded ** percent. How have home prices developed in recent years? House price growth in the U.S. has been going strong for years. In 2024, the median sales price of a single-family home exceeded ******* U.S. dollars, up from ******* U.S. dollars five years ago. One of the factors driving house prices was the cost of credit. The record-low federal funds effective rate allowed mortgage lenders to set mortgage interest rates as low as *** percent. With interest rates on the rise, home buying has also slowed, causing fluctuations in house prices. Why are house prices growing? Many markets in the U.S. are overheated because supply has not been able to keep up with demand. How many homes enter the housing market depends on the construction output, whereas the availability of existing homes for purchase depends on many other factors, such as the willingness of owners to sell. Furthermore, growing investor appetite in the housing sector means that prospective homebuyers have some extra competition to worry about. In certain metros, for example, the share of homes bought by investors exceeded ** percent in 2024.

Mortgage lenders are dealing with the RBA's shift to a tighter monetary policy, as it fights heavy inflation. Since May 2022, the RBA has raised the benchmark cash rate, which flows to interest rates on home loans. This represents a complete reversal of the prevailing approach to monetary policy taken in recent years. Over the course of the pandemic, subdued interest rates, in conjunction with government incentives and relaxed interest rate buffers, encouraged strong mortgage uptake. With the RBA's policy reversal, authorised deposit-taking institutions will need to balance their interest rate spreads to ensure steady profit. A stronger cash rate means more interest income from existing home loans, but also steeper funding costs. Moreover, increasing loan rates mean that prospective homeowners are being cut out of the market, which will slow demand for new home loans. Overall, industry revenue is expected to rise at an annualised 0.4% over the past five years, including an estimated 2.2% jump in 2023-24, to reach $103.4 billion. APRA's regulatory controls were updated in January 2023, with new capital adequacy ratios coming into effect. The major banks have had to tighten up their capital buffers to protect against financial instability. Although the ‘big four’ banks control most home loans, other lenders have emerged to foster competition for new loanees. Technological advances have made online-only mortgage lending viable. However, lenders that don't take deposits are more reliant on wholesale funding markets, which will be stretched under a higher cash rate. Looking ahead, technology spending isn't slowing down, as consumers continue to expect secure and user-friendly online financial services. This investment is even more pressing, given the ongoing threat of cyber-attacks. Industry revenue is projected to inch upwards at an annualised 0.8% over the five years through 2028-29, to $107.7 billion.

Over the five years through 2024-25, revenue is expected to edge upward at a compound annual rate of 1.4%. Demand is affected by disposable income levels, the national savings rate, macroeconomic conditions and demographic trends. The industry has been subject to intense consolidation activity in recent years, with many larger companies acquiring smaller competitors. Several major companies, including Tilney Group and Smith & Williamson, merged in September 2020, creating one of the largest financial adviser companies in the UK, Quilter PLC. Thanks to this consolidation, the industry's market share concentration has ballooned, but the sea of independent advisors has stayed in the game. In 2024-25, revenue is projected to jump by 2.3% to £7.13 billion. Demand for financial advisers has been growing strongly, with more consumers seeking better advice on managing their resources as scars from the income drops of the COVID-19 pandemic and cost-of-living crisis jolted awareness for the need for financial advice. Alongside this, interest rates have jumped up and down, causing consumers and businesses to spring at opportunities to make the most out of turbulent conditions. However, profit is unlikely to recover to pre-COVID-19 levels as intensifying price-based competition and high regulation constrain the average industry profit margin. Inflationary pressures and economic instability that are clouding financial market health slashed demand for financial advisory services, but discretionary spending for advisors follows suit as economic stability approaches. Revenue is forecast to advance at a compound annual rate of 4.1% over the five years through 2029-30 to £8.7 billion. Funds under management will bloom as new businesses take root and downstream markets increasingly realise the importance of carefully managing their resources. The use of technology to provide services will be vital for increasing demand, particularly from younger consumers with data insights at the core of financial advice. However, the emergence of robo-advisers threatens to replace human advisor services unless they can offer better returns for investors. Brexit allows for the review and improvement of industry regulations, offering more confidence and security. Growth could be constrained by regulatory costs and mounting competition as a number of new players enter the industry, with fees continuing to be threatened.

House prices in the UK rose dramatically during the coronavirus pandemic, with growth slowing down in 2022 and turning negative in 2023. The year-on-year annual house price change peaked at 14 percent in July 2022. In April 2025, house prices increased by 3.5 percent. As of late 2024, the average house price was close to 290,000 British pounds. Correction in housing prices: a European phenomenon The trend of a growing residential real estate market was not exclusive to the UK during the pandemic. Likewise, many European countries experienced falling prices in 2023. When comparing residential property RHPI (price index in real terms, e.g. corrected for inflation), countries such as Germany, France, Italy, and Spain also saw prices decline. Sweden, one of the countries with the fastest growing residential markets, saw one of the largest declines in prices. How has demand for UK housing changed since the outbreak of the coronavirus? The easing of the lockdown was followed by a dramatic increase in home sales. In November 2020, the number of mortgage approvals reached an all-time high of over 107,000. One of the reasons for the housing boom were the low mortgage rates, allowing home buyers to take out a loan with an interest rate as low as 2.5 percent. That changed as the Bank of England started to raise the base lending rate, resulting in higher borrowing costs and a decline in homebuyer sentiment.

Over the five years through 2024-25, the Home Insurance industry's revenue is anticipated to remain flat over the five years through 2024-25, standing at £6 billion. Revenue is comprised of premium income and investment income. Insurers must maintain enough capital reserves to meet liabilities in the event of a claim; insurers invest premium income in a diverse range of asset classes to gain a return. Despite strong demand for home insurance, supported by a rising number of housing transactions and a strong rental market, the home insurance industry has endured challenging operating conditions in recent years, including intense competition from other financial institutions like retail banks, downward pricing pressures and a tightening regulatory environment. According to ABI, premiums plummeted by 6% in 2022 amid fierce price competition and the FCA's new pricing reforms. This was despite a rise in claims following numerous severe weather events and inflated building material costs. Premiums eventually jumped in 2023-24 as insurers sought to mitigate intense cost pressures amid the inflationary environment, supporting revenue. However, a downturn in the housing market due to rising mortgage rates eroded demand for insurance, partially offsetting higher premiums. In 2024-25, premiums will continue to rise as insurers desperately try to boost profit. The UK housing market is also positioned for a strong recovery, supported by falling mortgage rates and improving economic sentiment, contributing to revenue growth of 6.6% in 2024-25. Home insurance revenue is forecast to climb at a compound annual rate of 2.7% over the five years through 2029-30 to reach £6 billion. Although premium growth is set to slow as inflation normalises, the housing market is set for solid growth in the coming years thanks to the lower interest rate environment, lifting demand for home insurance. All insurers are set to be compliant with the Solvency II reforms by December 2024, which will unlock £100 billion of investment, lifting revenue growth over the coming years. Insurtechs will continue to lead the way in innovation offering greater personalisation for customers thanks to AI and big data.