Home Loan Market Updates

Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to home loan market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.

Home Loan Market News

in Home Loan
  • L&T Finance Ltd. released Knowledgeable AI (KAI), an AI-based virtual home loan guide, on its redesigned corporate website in February 2025. Launched at the RAISE'24 event, KAI provided a simplified home loan experience, particularly for first-time homebuyers. Built to solve intricate loan questions and calculations, KAI employed advanced language models to provide custom solutions, showcasing L&T Finance's commitment to innovation and customer solutions.
  • On August 29, 2024, the Federal Home Loan Banks (FHLBanks) made housing supply recommendations to the U.S. Department of Treasury. In a letter to Deputy Secretary Wally Adeyemo, the FHLBanks presented joint proposals with the Treasury and FHFA to meet the country's housing needs. The proposals were centered on improving affordable housing programs and backing community-oriented financial institutions.
  • On February 15, 2024, HDFC Bank announced impressive growth in its Home Loan business after the merger with HDFC Ltd. The bank recorded healthy double-digit year-on-year growth for two successive quarters up to December 2023, supported by a wider distribution network. Sequential growth was 3.6%, the highest among peers, and turnaround time was decreased by one-third after the merger. The market share of the bank expanded by 18% to 20%, and there was more emphasis on self-employed segments along with increased digital engagement.
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Global Home Loan market size was valued at USD 63.31 Billion in 2023 and is poised to grow from USD 69.59 Billion in 2024 to USD 148.31 Billion by 2032, growing at a CAGR of 9.92% in the forecast period (2025-2032).

The home loan market is controlled by industry participants Wells Fargo and Quicken Loans with large operations and strong brands. New emerging competitors are cutting out spaces with new ideas. Well-established company Better.com, founded in 2016, wants to cut secondary mortgage fees and build a fully digital platform so the home loan process can be streamlined. Lenda, founded in 2013, aims to simplify the mortgage process through paperless and quick loan approvals so that home financing becomes more convenient and efficient. Such startups are disrupting traditional lenders by giving more importance to digital solutions and customer convenience. 'Westpac Banking Corporation', 'Citigroup', 'Commonwealth Bank of Australia', 'JP Morgan Chase & Co.', 'Truist', 'ANZ Banking Group', 'Deutsche Bank', 'Barclays', 'National Australia Bank', 'Bank of America', 'BNP Paribas', 'Wells Fargo', 'HSBC', 'PNC Financial Services Group', 'ICBC (Industrial and Commercial Bank of China)', 'Morgan Stanley', 'HDFC Bank', 'Mr. Cooper Group', 'Home Credit Group', 'ING Group'

Demands for housing are being driven by increasing population, urbanization and changes in lifestyle. While more and more people migrate towards the cities and desire homes for themselves, there is greater and greater demand for housing. These changes are raising greater demands for home loans with individuals and households seeking homes in accordance with changing desires and necessities. These are indicators of increased role played by home loans in the new era housing sector.

Short-Term: In the near future, lenders are quick to adopt AI-powered solutions, automated underwriting, and online KYC to digitize home loan approvals. This is catering to tech-aware borrowers and cutting turnaround times. Chatbots and virtual counselors are also facilitating customer interaction. These tools are being used to curb friction in application processes as well as enhance operational efficiency, particularly with increased competition among lenders in post-pandemic lending scenarios.

Why is Asia Pacific Leading Home Loan Market in 2024?

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Global Home Loan Market
Home Loan Market

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