Home Equity Lending Market Trends

Statistics for the 2023 & 2024 Home Equity Lending market trends, created by Mordor Intelligence™ Industry Reports. Home Equity Lending trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

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Market Trends of Home Equity Lending Industry

Access to Large Amount of Loan

With home equity lending a user is able to borrow almost 85% of the equity they owe in their home. Home equity lending exists with a comparatively lower level of interest rate than the market allowing users to borrow a large amount of money. In countries with developed financial markets of United States and Europe Home equity lending has observed a continuous rise over the years with a significant gap existing in the developing Asian markets resulting in an increasing international players expanding their home equity lending product in Asian countries. Asia is emerging as a region with the largest number of small and medium-sized enterprises and with businesses requiring a significant sum of money during the initial stages, home equity lending has emerged as an efficient solution to borrow a significant amount of money at a lower rate of interest.

Home Equity Lending Market: Value of Homeowner Equity in United States, In USD Trillion, 2019-2022

Rise in Home Renovation

By using their existing equity in the home as collateral an increasing number of users are finding it an efficient way for financing home renovation. By using the property as collateral lenders provide a lump sum amount to the user for financing renovations. Borrowers prefer this method for financing because the lender charges an interest rate that is lower than other credit but higher than the first mortgage of the borrower. The Global home renovation market has observed continuous growth over the years existing at a value of more than USD 800 Billion resulting in a rising number of people opting for Home equity lending to finance these renovations. Newzeland, Australia, Singapore, and Sweden are existing as the leading countries with attraction towards home renovation and are expected to drive the home equity lending market at a comparatively higher rate in comparison to other nations.

Home Equity Lending Market: Global Home Improvement Market Size, In USD Billion, 2019 -2022

Home Equity Lending Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)