Global Household Lending Market Segments 2024, Forecast To 2033
5 Mar, 2024
The household lending market has exhibited strong growth, increasing from $4594.53 billion in 2023 to $5051.46 billion in 2024, with a 9.9% CAGR. The historic period's growth is linked to interest rates, economic conditions, government policies, consumer confidence, and credit market conditions. Anticipating rapid growth, the market is projected to reach $7485.45 billion in 2028 with a 10.3% CAGR. This growth is driven by demographic trends, societal shifts, global economic factors, loan innovations, and trends like alternative credit scoring and blockchain integration.
Global Household Lending Market Key Driver
The household lending market expands due to a significant spike in housing costs, increasing by 12.4% in the United States. The Federal Housing Finance Agency's data highlights the role of loans in overcoming the affordability challenges posed by rising housing costs.
Get A Free Sample Of The Global Household Lending Market ReportGlobal Household Lending Market Segments
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
By Geography: The regions covered in the anti inflammatory therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North America was the largest region in the household lending market in 2023. The regions covered in the household lending market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Household Lending Industry Players
Bank of America Corporation; JPMorgan Chase & Co.; Pentagon Federal Credit Union; Discover Financial Services Inc.; Federal Deposit Insurance Corporation; 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; Morgan Stanley; 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; LendingPoint LLC; LendingUSA LLC; Mission Lane LLC; Trust Financial Corporation; 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.
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AIOps Household Lending Market Overview
Household lending refers the act of loaning money to purchase a home or household. The debtor pays back the borrowed funds and interest according to the loan repayment plan. Household lending can aid in raising the budget for a home purchase using the loan amount provided.
Household Lending Global Market Report 2023 provides data on the global household lending market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The household lending market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.