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JSB Market Research - Insight Report: Mortgage Market Trends in the US, UK, Ireland and Australia

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JSB Market Research - Insight Report: Mortgage Market Trends in the US, UK, Ireland and Australia
Insight Report: Mortgage Market Trends in the US, UK, Ireland and Australia
On 12th May 2014

Synopsis
The report outlines the key trends arising and insights in the mortgage markets in the US, UK, Ireland and Australia after the financial crisis:
It provides a comparative analysis of the US, UK, Irish and Australian mortgage markets
It provides analytical insights into the key emerging trends in the mortgage markets arising as a result of regulatory and economic developments in these countries
It provides a competitive assessment of the mortgage products offered by the leading lending banks in the US, UK, Ireland and Australia, and their shares in the mortgage market Summary
The subprime mortgage crisis of 2008 severely impacted numerous world economies. Reckless lending practices by banks and rising house prices led to an increasing number of foreclosures in mortgage markets around the world. While economies such as the US and UK have shown signs of improvement in the overall mortgage market, Ireland has recorded a negative trend in the mortgage market as its economy continues to struggle. Australia, on the other hand, remained resilient and was less impacted by the crisis, supported by strong banking and consumer protection regulations in the country. The US mortgage market has shown signs of recovery following the financial crisis, supported by strong regulatory measures and an economic stimulus package by the Federal Reserve. GDP growth, increased consumer spending and falling unemployment have also contributed to the mortgage markets recovery. In terms of outstanding mortgages value, the overall US mortgage market reached US$13.2 trillion in 2013, with annual growth recovering from -4.4% in 2009 to just -0.08% in 2013. Delinquencies and foreclosures in the mortgage market have improved since 2009: delinquencies improved from 4.6% in 2009 to 2.4% in 2013, while the number of foreclosures fell from 3.5 million to 1.7 million. The improved housing
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