Market overview
The global mortgage market is worth USD 679 bn in 2026 and is forecast to reach USD 1.1 tn by 2036, growing at a 5.0% CAGR. United States is the largest country market and Net interest margin is the largest by revenue source segment.
| Scope | Net revenue of mortgage lenders and servicers: interest margin, origination fees and servicing fees on residential mortgage loans worldwide. |
|---|---|
| Industry | Services and Utilities |
| Value 2025 | USD 650 bn |
| Value 2026 | USD 679 bn |
| Value 2036 | USD 1.1 tn |
| CAGR 2026-2036 | 5.0% |
| Volume 2026 | 30,887 thousand new mortgages |
| Volume 2036 | 43,351 thousand new mortgages |
| Average price 2026 | USD 21,990 per new mortgage |
| Report price | Starts from USD 1,999 |
| Published | November 2026 |
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Mortgage market size and forecast, 2026-2036
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Year | Market value |
|---|---|
| 2026 | USD 679 bn |
| 2027 | USD 713 bn |
| 2028 | USD 749 bn |
| 2029 | USD 786 bn |
| 2030 | USD 826 bn |
| 2031 | USD 867 bn |
| 2032 | USD 910 bn |
| 2033 | USD 956 bn |
| 2034 | USD 1,004 bn |
| 2035 | USD 1,054 bn |
| 2036 | USD 1,106 bn |
Mortgage market segmentation
By revenue source
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Net interest margin | 58.0% | 55.7% | USD 394 bn | 4.6% |
| Origination and gain on sale | 20.0% | 21.1% | USD 136 bn | 5.6% |
| Servicing fees | 22.0% | 23.2% | USD 149 bn | 5.6% |
By lender type
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Retail and commercial banks | 68.0% | 64.8% | USD 462 bn | 4.5% |
| Non-bank lenders | 24.0% | 27.6% | USD 163 bn | 6.5% |
| Government-backed and cooperatives | 8.0% | 7.6% | USD 54.3 bn | 4.5% |
By interest rate type
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Fixed rate | 56.0% | 50.0% | USD 380 bn | 3.8% |
| Variable rate | 30.0% | 32.0% | USD 204 bn | 5.7% |
| Hybrid and interest-only | 14.0% | 18.0% | USD 95.1 bn | 7.7% |
By loan purpose
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Home purchase | 58.0% | 57.0% | USD 394 bn | 4.8% |
| Refinance | 28.0% | 27.0% | USD 190 bn | 4.6% |
| Equity release and home improvement | 14.0% | 16.0% | USD 95.1 bn | 6.4% |
By origination channel
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Direct branch and call centre | 36.0% | 28.0% | USD 245 bn | 2.4% |
| Brokers and intermediaries | 40.0% | 41.0% | USD 272 bn | 5.3% |
| Online platforms | 24.0% | 31.0% | USD 163 bn | 7.7% |
Top 25 countries for mortgage by revenue
Countries are ranked by revenue earned from sales in the country, not by where the product is made. The ten largest hold 81.0% of 2026 revenue and the 25 countries below together hold 95.0%.
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| # | Country | Value 2026 | Share 2026 | Value 2036 | CAGR 2026-36 |
|---|---|---|---|---|---|
| 1 | United States | USD 204 bn | 30.0% | USD 334 bn | 5.1% |
| 2 | China | USD 109 bn | 16.0% | USD 162 bn | 4.0% |
| 3 | United Kingdom | USD 40.8 bn | 6.0% | USD 64.2 bn | 4.6% |
| 4 | Japan | USD 34.0 bn | 5.0% | USD 46.5 bn | 3.2% |
| 5 | Germany | USD 34.0 bn | 5.0% | USD 50.9 bn | 4.1% |
| 6 | Canada | USD 34.0 bn | 5.0% | USD 55.3 bn | 5.0% |
| 7 | Australia | USD 30.6 bn | 4.5% | USD 49.8 bn | 5.0% |
| 8 | France | USD 27.2 bn | 4.0% | USD 40.9 bn | 4.2% |
| 9 | India | USD 20.4 bn | 3.0% | USD 55.3 bn | 10.5% |
| 10 | Netherlands | USD 17.0 bn | 2.5% | USD 25.4 bn | 4.1% |
| 11 | South Korea | USD 16.0 bn | 2.4% | USD 27.2 bn | 5.4% |
| 12 | Spain | USD 10.9 bn | 1.6% | USD 18.6 bn | 5.5% |
| 13 | Italy | USD 8.8 bn | 1.3% | USD 14.8 bn | 5.4% |
| 14 | Brazil | USD 7.5 bn | 1.1% | USD 13.9 bn | 6.4% |
| 15 | Sweden | USD 6.7 bn | 1.0% | USD 11.3 bn | 5.4% |
| 16 | Switzerland | USD 6.0 bn | 0.9% | USD 10.2 bn | 5.5% |
| 17 | Denmark | USD 5.5 bn | 0.8% | USD 9.3 bn | 5.4% |
| 18 | Norway | USD 5.1 bn | 0.8% | USD 8.6 bn | 5.4% |
| 19 | Singapore | USD 4.8 bn | 0.7% | USD 8.2 bn | 5.4% |
| 20 | Ireland | USD 4.6 bn | 0.7% | USD 7.7 bn | 5.5% |
| 21 | Mexico | USD 4.3 bn | 0.6% | USD 8.0 bn | 6.4% |
| 22 | Belgium | USD 4.1 bn | 0.6% | USD 7.0 bn | 5.5% |
| 23 | New Zealand | USD 3.9 bn | 0.6% | USD 6.6 bn | 5.4% |
| 24 | Poland | USD 3.7 bn | 0.6% | USD 7.0 bn | 6.4% |
| 25 | Austria | USD 3.6 bn | 0.5% | USD 6.1 bn | 5.4% |
| Rest of world | USD 33.6 bn | 5.0% | USD 57.9 bn | 5.6% |
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
Competitive landscape
Group 1: Global leaders
- JPMorgan Chase
- Wells Fargo
- Bank of America
- Rocket Companies
- China Construction Bank
- Lloyds Banking Group
- U.S. Bancorp
- Industrial and Commercial Bank of China
Group 2: Regional and specialist players
- Commonwealth Bank of Australia
- Royal Bank of Canada
- Nationwide Building Society
- Annaly Capital Management
- PennyMac Financial Services
- Westpac
- National Australia Bank
- Toronto-Dominion Bank
- Santander UK
- Barclays
Group 3: Emerging and niche players
- LendingTree
- Better Home & Finance
- HDFC Bank
- Mr. Cooper
- loanDepot
- UWM Holdings
- Newrez
- LIC Housing Finance
- Onity Group
Research methodology
Every figure on this page comes from the research framework that we apply to all of the markets we cover. The 2025 base for the mortgage market is built from the volume sold and the price that buyers pay, and is cross-checked against the size of the wider industry the market belongs to. Where a market can be sized in more than one way, the routes are compared before a figure is set.
The forecast runs year by year from the 2025 base to 2036. Growth in each year reflects demand from the industries that buy the product, adoption of new technology, pricing, regulation and replacement cycles. Volume and price are modelled together, so revenue in each year equals volume multiplied by average price. The 2026 to 2036 compound annual growth rate of 5.0% is calculated from the resulting values.
The market is divided by revenue source, by lender type, by interest rate type, by loan purpose, by origination channel. The 25 largest countries are ranked by revenue earned from sales to buyers in each country, not by where the product is made. Segment values and country values add up to the market total in every year, and every report is checked for consistency before it is published.
Companies are placed in three groups: global leaders, regional and specialist players, and emerging and niche players. The groups describe how companies compete in the market. They are not a ranking and they are not market shares.
Our analysts also carry out primary research. Customized reports add interviews with key opinion leaders, such as senior executives, technical specialists and buyers, to test the assumptions behind the numbers for the question being asked.
Frequently asked questions
How big is the mortgage market?
The global mortgage market is estimated at USD 650 bn in 2025 and USD 679 bn in 2026.
How fast will the mortgage market grow?
It is forecast to reach USD 1.1 tn by 2036, a compound annual growth rate of 5.0% from 2026, an increase of USD 427 bn.
Which country is the largest market for mortgage?
United States is the largest market by revenue at USD 204 bn in 2026, 30.0% of the global total. The three largest countries together hold 52.0%.
Which country is growing fastest?
Among the ten largest markets, India is growing fastest at 10.5% a year from 2026 to 2036.
Which mortgage segment is largest?
In the by revenue source split, Net interest margin is the largest segment with 58.0% of 2026 revenue.
Who are the leading mortgage companies?
Global leaders include JPMorgan Chase, Wells Fargo, Bank of America, Rocket Companies.
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