The North America Refinancing Market would witness market growth of 6.4% CAGR during the forecast period (2022-2028).
A borrower must submit a fresh loan application and make their request to either their current or a new lender in order to refinance. Reassessing someone's or a company's financial status and credit terms are done in refinancing. Mortgage loans, student loans, and vehicle loans are among the consumer debts that are frequently taken into account for refinancing.
Businesses may also want to refinance their commercial real estate mortgage loans. In order to identify commercial loans made by creditors who might profit from lowered market rates or an enhanced credit rating, many business investors will examine their corporate balance sheets. Options for refinancing come in a variety of forms.
The kind of mortgage a borrower chooses to obtain is determined by their needs. Refinancing with a term and rate is the most typical kind. Rate-and-term refinancing refers to the process of paying off the first loan and replacing it with a second loan agreement that has lower interest rates. Cash-outs are frequent when the value of the underlying product that serves as the loan's collateral rises.
The Obama administration made it possible for programs that assist homeowners with underwater mortgages to refinance their homes and take advantage of record-low interest rates. Individuals who fulfill this date are eligible for FHA PMI rates that are affordable. Borrowers who no longer live in the house or who own it as an investment were also able to take advantage of the Streamline Refinance Program, which does not need an assessment of the property.
The US market dominated the North America Refinancing Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $7,065 million by 2028.The Canada market is poised to grow at a CAGR of 8.4% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 8.2% during (2022 - 2028).
Based on Deployment, the market is segmented into On-premise and Cloud. Based on End User, the market is segmented into Personal and Commercial. Based on Type, the market is segmented into Fixed-rate Mortgage, Adjustable-rate Mortgage, Cash-out and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Refinancing Market is Estimated to reach $28 Billion by 2028, at a CAGR of 7.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Wells Fargo & Company, Ally Financial Inc., Rocket Companies, Inc., Citigroup Inc., Berkshire Hathaway, Inc. (Bank of America Corporation), loanDepot, Inc., JPMorgan Chase & Co. (Wepay, Inc.), RefiJet, Better Holdco, Inc., and Caliber Home Loans, Inc. (Newrez LLC).
Scope of the Study
Market Segments Covered in the Report:
By Deployment
By End User
By Type
- Fixed-rate Mortgage
- Adjustable-rate Mortgage
- Cash-out
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Wells Fargo & Company
- Ally Financial Inc.
- Rocket Companies, Inc.
- Citigroup Inc.
- Berkshire Hathaway, Inc. (Bank of America Corporation)
- loanDepot, Inc.
- JPMorgan Chase & Co. (Wepay, Inc.)
- RefiJet
- Better Holdco, Inc.
- Caliber Home Loans, Inc. (Newrez LLC)
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Refinancing Market, by Deployment
1.4.2 North America Refinancing Market, by End User
1.4.3 North America Refinancing Market, by Type
1.4.4 North America Refinancing Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisitions, Joint Ventures & Mergers
3.2.4 Geographical Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
Chapter 4. North America Refinancing Market by Deployment
4.1 North America On-premise Market by Country
4.2 North America Cloud Market by Country
Chapter 5. North America Refinancing Market by End-use
5.1 North America Personal Market by Country
5.2 North America Commercial Market by Country
Chapter 6. North America Refinancing Market by Type
6.1 North America Fixed-rate Mortgage Market by Country
6.2 North America Adjustable-rate Mortgage Market by Country
6.3 North America Cash-out Market by Country
6.4 North America Others Market by Country
Chapter 7. North America Refinancing Market by Country
7.1 US Refinancing Market
7.1.1 US Refinancing Market by Deployment
7.1.2 US Refinancing Market by End-use
7.1.3 US Refinancing Market by Type
7.2 Canada Refinancing Market
7.2.1 Canada Refinancing Market by Deployment
7.2.2 Canada Refinancing Market by End-use
7.2.3 Canada Refinancing Market by Type
7.3 Mexico Refinancing Market
7.3.1 Mexico Refinancing Market by Deployment
7.3.2 Mexico Refinancing Market by End-use
7.3.3 Mexico Refinancing Market by Type
7.4 Rest of North America Refinancing Market
7.4.1 Rest of North America Refinancing Market by Deployment
7.4.2 Rest of North America Refinancing Market by End-use
7.4.3 Rest of North America Refinancing Market by Type
Chapter 8. Company Profiles
8.1 Wells Fargo & Company
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental Analysis
8.2 Ally Financial Inc.
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental Analysis
8.2.4 Recent strategies and developments:
8.2.4.1 Partnerships, Collaborations, and Agreements:
8.2.4.2 Product Launches and Product Expansions:
8.2.4.3 Acquisitions, Joint Ventures & Mergers:
8.2.4.4 Geographical Expansions:
8.3 Rocket Companies, Inc.
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental Analysis
8.3.4 Recent strategies and developments:
8.3.4.1 Partnerships, Collaborations, and Agreements:
8.3.4.2 Acquisitions, Joint Ventures & Mergers:
8.4 Citigroup Inc.
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Recent strategies and developments:
8.4.4.1 Product Launches and Product Expansions:
8.5 Berkshire Hathaway, Inc. (Bank of America Corporation)
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Recent strategies and developments:
8.5.4.1 Partnerships, Collaborations, and Agreements:
8.5.4.2 Product Launches and Product Expansions:
8.6 loanDepot, Inc.
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Recent strategies and developments:
8.6.3.1 Acquisition, Mergers and Joint Ventures:
8.7 JPMorgan Chase & Co. (Wepay, Inc.)
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.7.4 Recent strategies and developments:
8.7.4.1 Product Launches and Product Expansions:
8.8 RefiJet
8.8.1 Company Overview
8.8.2 Recent strategies and developments:
8.8.2.1 Product Launches and Product Expansions:
8.9 Better Holdco, Inc.
8.9.1 Company Overview
8.9.2 Recent strategies and developments:
8.9.2.1 Acquisition and Mergers:
8.10. Caliber Home Loans, Inc. (Newrez LLC)
8.10.1 Company Overview
8.10.2 Recent strategies and developments:
8.10.2.1 Partnerships, Collaborations, and Agreements:
8.10.2.2 Product Launches and Product Expansions:
TABLE 1 North America Refinancing Market, 2018 - 2021, USD Million
TABLE 2 North America Refinancing Market, 2022 - 2028, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Refinancing Market
TABLE 4 Product Launches And Product Expansions– Refinancing Market
TABLE 5 Acquisitions, Joint Ventures & Mergers – Refinancing Market
TABLE 6 Geographical Expansions – Refinancing Market
TABLE 7 North America Refinancing Market by Deployment, 2018 - 2021, USD Million
TABLE 8 North America Refinancing Market by Deployment, 2022 - 2028, USD Million
TABLE 9 North America On-premise Market by Country, 2018 - 2021, USD Million
TABLE 10 North America On-premise Market by Country, 2022 - 2028, USD Million
TABLE 11 North America Cloud Market by Country, 2018 - 2021, USD Million
TABLE 12 North America Cloud Market by Country, 2022 - 2028, USD Million
TABLE 13 North America Refinancing Market by End-use, 2018 - 2021, USD Million
TABLE 14 North America Refinancing Market by End-use, 2022 - 2028, USD Million
TABLE 15 North America Personal Market by Country, 2018 - 2021, USD Million
TABLE 16 North America Personal Market by Country, 2022 - 2028, USD Million
TABLE 17 North America Commercial Market by Country, 2018 - 2021, USD Million
TABLE 18 North America Commercial Market by Country, 2022 - 2028, USD Million
TABLE 19 North America Refinancing Market by Type, 2018 - 2021, USD Million
TABLE 20 North America Refinancing Market by Type, 2022 - 2028, USD Million
TABLE 21 North America Fixed-rate Mortgage Market by Country, 2018 - 2021, USD Million
TABLE 22 North America Fixed-rate Mortgage Market by Country, 2022 - 2028, USD Million
TABLE 23 North America Adjustable-rate Mortgage Market by Country, 2018 - 2021, USD Million
TABLE 24 North America Adjustable-rate Mortgage Market by Country, 2022 - 2028, USD Million
TABLE 25 North America Cash-out Market by Country, 2018 - 2021, USD Million
TABLE 26 North America Cash-out Market by Country, 2022 - 2028, USD Million
TABLE 27 North America Others Market by Country, 2018 - 2021, USD Million
TABLE 28 North America Others Market by Country, 2022 - 2028, USD Million
TABLE 29 North America Refinancing Market by Country, 2018 - 2021, USD Million
TABLE 30 North America Refinancing Market by Country, 2022 - 2028, USD Million
TABLE 31 US Refinancing Market, 2018 - 2021, USD Million
TABLE 32 US Refinancing Market, 2022 - 2028, USD Million
TABLE 33 US Refinancing Market by Deployment, 2018 - 2021, USD Million
TABLE 34 US Refinancing Market by Deployment, 2022 - 2028, USD Million
TABLE 35 US Refinancing Market by End-use, 2018 - 2021, USD Million
TABLE 36 US Refinancing Market by End-use, 2022 - 2028, USD Million
TABLE 37 US Refinancing Market by Type, 2018 - 2021, USD Million
TABLE 38 US Refinancing Market by Type, 2022 - 2028, USD Million
TABLE 39 Canada Refinancing Market, 2018 - 2021, USD Million
TABLE 40 Canada Refinancing Market, 2022 - 2028, USD Million
TABLE 41 Canada Refinancing Market by Deployment, 2018 - 2021, USD Million
TABLE 42 Canada Refinancing Market by Deployment, 2022 - 2028, USD Million
TABLE 43 Canada Refinancing Market by End-use, 2018 - 2021, USD Million
TABLE 44 Canada Refinancing Market by End-use, 2022 - 2028, USD Million
TABLE 45 Canada Refinancing Market by Type, 2018 - 2021, USD Million
TABLE 46 Canada Refinancing Market by Type, 2022 - 2028, USD Million
TABLE 47 Mexico Refinancing Market, 2018 - 2021, USD Million
TABLE 48 Mexico Refinancing Market, 2022 - 2028, USD Million
TABLE 49 Mexico Refinancing Market by Deployment, 2018 - 2021, USD Million
TABLE 50 Mexico Refinancing Market by Deployment, 2022 - 2028, USD Million
TABLE 51 Mexico Refinancing Market by End-use, 2018 - 2021, USD Million
TABLE 52 Mexico Refinancing Market by End-use, 2022 - 2028, USD Million
TABLE 53 Mexico Refinancing Market by Type, 2018 - 2021, USD Million
TABLE 54 Mexico Refinancing Market by Type, 2022 - 2028, USD Million
TABLE 55 Rest of North America Refinancing Market, 2018 - 2021, USD Million
TABLE 56 Rest of North America Refinancing Market, 2022 - 2028, USD Million
TABLE 57 Rest of North America Refinancing Market by Deployment, 2018 - 2021, USD Million
TABLE 58 Rest of North America Refinancing Market by Deployment, 2022 - 2028, USD Million
TABLE 59 Rest of North America Refinancing Market by End-use, 2018 - 2021, USD Million
TABLE 60 Rest of North America Refinancing Market by End-use, 2022 - 2028, USD Million
TABLE 61 Rest of North America Refinancing Market by Type, 2018 - 2021, USD Million
TABLE 62 Rest of North America Refinancing Market by Type, 2022 - 2028, USD Million
TABLE 63 Key Information – Wells Fargo & Company
TABLE 64 Key Information – Ally Financial Inc.
TABLE 65 Key Information – Rocket Companies, Inc.
TABLE 66 Key Information – Citigroup Inc.
TABLE 67 key information – Berkshire Hathaway, Inc.
TABLE 68 Key Information – loanDepot, Inc.
TABLE 69 key information – JPMorgan Chase & Co.
TABLE 70 Key Information – RefiJet
TABLE 71 Key Information – Better Holdco, Inc.
TABLE 72 Key Information – Caliber Home Loans, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2018-2022)
FIG 4 Recent strategies and developments: Ally Financial Inc.
FIG 5 Recent strategies and developments: Rocket Companies, Inc.
FIG 6 Recent strategies and developments: Bank of America Corporation
FIG 7 Recent strategies and developments: Caliber Home Loans, Inc.