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

Topics: Mortgage, Credit card, Subprime mortgage crisis Pages: 16 (3235 words) Published: May 12, 2014
Insight Report: Mortgage Market Trends in the US, UK, Ireland and Australia On 12th May 2014

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 market and enforcement of stringent regulatory measures are expected to result in positive growth in the overall mortgage market over 20142018. The UK mortgage market is showing signs of improvement, but downside risks emanating from the European sovereign debt crisis remain a key concern. The UKs economy is showing signs of improvement, although growth remains sluggish. Nevertheless, positive economic growth and the implementation of strict regulations are helping to curb the effects of the global financial crisis. The value of outstanding mortgages in 2013 was at around US$1.98 trillion. There has been substantial growth in the number of mortgages lent over the years, following the European debt crisis. The introduction of new mortgages is made available for the Muslim population of the country. First time buyer and buy-to-let are the most preferred mortgages among borrowers in the UK market. Improvements in the job market among the young population increased demand for first-time-buyer mortgages. Scope

This report highlights the key trends arising in the mortgage markets after the strict enforcement of regulation following the subprime mortgage crisis in the US, UK, Ireland and Australia. The report gives an insight into preferred mortgage products offered by the banks in these countries, and the fluctuations in interest rates and economic factors affecting consumers' choices of mortgage products. The report also discusses the key drivers, issues and challenges faced by retail banks while offering mortgage products in these countries. Reasons To Buy

Gain insights into the mortgage markets of the US, UK, Ireland and Australia. Gain an understanding of the amendments brought about in the mortgage lending market following the financial crisis in these countries. Gain insights into competitive analysis of the four countries based on market size, strategies adopted to improve the mortgage products, and company profiles and product portfolios in these four countries....
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