Refinancing Market Size, Industry Analysis Report By Type (Fixed-rate Mortgage Refinancing, Adjustable-rate Mortgage Refinancing, Cash-out Refinancing), By Deployment (Cloud, On-premise), By End-Use (Personal, Commercial) & Region – Forecast

  • 14/11/2022
  • 238
  • Banking & Finance
Refinancing Market- Overview
The Refinancing Market is valued at USD 18.09 million in 2022 and is projected to reach a value of USD 32.26 million in 2030 expanding at a CAGR of 7.5% over the forecast period of 2022-2030. In this the borrowers refinance their existing loans in order to benefit from reduced monthly payments. This is to help borrowers pay faster, modify their loan terms, and also cash out the home equity value, which are the major factors contributing to the industry’s growth. Also, the cash-out refinance is a mortgage refinance that has enabled borrowers to liquidate home equity that is built up over the years by paying the original mortgage.
The pandemic had a positive impact on the market growth. This is because as the crisis limited household incomes worldwide, borrowers started opting for financial services with lower interest rates in order to save money on the high-interest rates. Because of the lagging economic activity, refinancing at a lower interest rate enabled the borrowers to reduce mortgage costs and the refinancing activity among high-income borrowers increased significantly compared to low-income homeowners. Therefore, it had a positive impact on the market growth.

Refinancing Market- Growth Factors
Every market has its growth determinant and challenges. One of the major factor that has fuelled the market growth over the forecast period is the increasing investment made by banks and financial institutes in order to enhance their technology. This has led to providing innovative product offerings to their customers and boosting the customer’s experience over the forecast period. Additionally, these systems' various potential benefits have forced key players to develop innovative products that include fast loan payment, easy convenience, and fixed rates for mortgages. Thus, it will witness maximum growth of the Refinancing Market in the forecast period. Also, there has been an enormous growth in various venture capitalists and venture capital businesses and these businesses have focused on aiding the start-ups that fund them to innovate their product portfolios. This has augmented the market growth over the forecast period.

Refinancing Market- Market Trends
• The low-interest rates for auto and home loans have also boosted the development of the market growth over the forecast period. This has led to providing innovative product offerings to their customers and also boosting the customer’s experience.
• Also, the rising investments made by banks and other financial institutions in order to enhance their technology and provide improved refinancing offerings to their customers aimed at boosting their experience and the growth over the forecast period.
• At the same time, banks and financial institutes have been offering numerous refinancing options to customers with fixed-rate mortgages and lower interest rates. This has augmented the market growth over the forecast period.

Refinancing Market- Segmentation
The refinancing market has been sub-classified into type, deployment, and end-use.
Based on Type
• Fixed-rate Mortgage Refinancing
• Adjustable-rate Mortgage Refinancing
• Cash-out Refinancing
• Others

Based on Deployment
• Cloud
• On-premise

Based on End-Use
• Personal
• Commercial

Refinancing Market- Regional Segmentation
The Refinancing Market is segmented into 4 main regions namely, North America, Europe, Asia Pacific, and Middle east and Africa. Among these, North America has dominated the market growth over the forecast period. This is because of the presence of a large number of prominent players in the region, such as WELLS FARGO & COMPANY, Bank of America, and ALLY FINANCIAL INC and also this region includes numerous mortgage investors such as Fannie Mae, Freddie Mac, and Ginnie Mae, which are government-sponsored enterprises that offer better refinancing options and has provided lucrative opportunities to the market growth.

Refinancing Market- Key Market Players
Some of the prominent companies operating in the market are WELLS FARGO & COMPANY; Bank of America; ALLY FINANCIAL INC; JPMorgan Chase & Co.; Rocket Companies, Inc.; Citigroup Inc.; RefiJet; Better Holdco, Inc.; loanDepot, Inc.; Caliber Home Loans, Inc.

Report scope
Refinancing Market : Historical Years- 2018-2021
Refinancing Market : Forecast Years- 2022-2030
Refinancing Market 2022- USD 18.09 Million
Refinancing Market CAGR- 7.5%

Quality Assurance Process

  1. We Market Research’s Quality Assurance program strives to deliver superior value to our clients.

We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.

Market Research Process

We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.

To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
  • Project kickoff meeting with client
  • Conduct frequent client communications
  • Form project steering committee
  • Assign a senior SR executive as QA Executive
  • Conduct internal editorial & quality reviews of project deliverables
  • Certify project staff in SR methodologies & standards
  • Monitor client satisfaction
  • Monitor realized value post-project

Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).


The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.

Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.


Select a license type that suits your business needs

Single User Access

US $4750

Only Four Thousand Seven Hundred Fifty US dollar

  • 1 User access
  • 15% Additional Free Customization
  • Free Unlimited post-sale support
  • 100% Service Guarantee until achievement of ROI
Multi User Cost

US $5750

Only Five Thousand Seven Hundred Fifty US dollar

  • 5 Users access
  • 25% Additional Free Customization
  • Access Report summaries for Free
  • Guaranteed service
  • Dedicated Account Manager
  • Discount of 20% on next purchase
  • Get personalized market brief from Lead Author
  • Printing of Report permitted
  • Discount of 20% on next purchase
  • 100% Service Guarantee until achievement of ROI
Enterprise User Cost

US $7750

Only Seven Thousand Seven Hundred Fifty US dollar

  • Unlimited User Access
  • 30% Additional Free Customization
  • Exclusive Previews to latest or upcoming reports
  • Discount of 30% on next purchase
  • 100% Service Guarantee until achievement of ROI