The evolving mortgage market: Winning the fight for customers The evolving mortgage market: Winning the fight for customers The evolving mortgage market: Winning the fight for customers

The COVID-19 pandemic has caused a massive shock to the economies of many nations around the world. While federal governments have responded in a fairly consistent manner through a combination of looser monetary policies and fiscal stimulus packages, most countries have experienced significant job losses and declines in gross domestic product over consecutive quarters.

Canada, Australia and the United Kingdom (UK) have all been impacted by the health crisis.

• Unemployment levels in Australia are expected to peak at around 10%
• In the UK over 41,000 people have died from COVID-19 since January 2020 and GDP contracted by 20.4% in the second quarter of 2020
• In Canada, the federal government has provided over $324bn in direct and tax liquidity support measures to help Canadians.

This report explores COVID-19 implications, and the ensuing economic impact on the mortgage markets in Canada, Australia and the UK. To succeed over the next 12 to 24 months, lenders need to understand the changing needs and expectations of this important customer segment and repositions their product and service offerings accordingly if they are to win the fight for mortgage customers.

There are many challenges for financial institutions to address as they look to win in the mortgage market.

Download this edition of KPMG’s 2020 Mortgage report to explore:

• How the global pandemic has impacted demand for mortgages and home ownership
• How customer behaviors are changing across the end-to-end mortgage process
• The changing dynamics of the global mortgage market

To learn more about the analysis and topics raised in this report, please contact the KPMG contributors in this publication.