Behind the Close: 50+ Data-Driven Trends Reshaping Mortgage Brokerage

The mortgage brokerage industry is experiencing significant transformation driven by changing consumer behaviors, technological advancements, and evolving market conditions. This report compiles key statistics and data points from North America's last five years (2020-2025), focusing on lead generation, customer engagement, technology adoption, and client retention. 

The TLDR? It costs five to seven times more to acquire a new customer than to retain an existing one.

For mortgage brokerages considering solutions like BrokerBot, which uses automated home valuation tools to keep email lists engaged, these insights demonstrate why investing in client engagement technology is critical for business growth and sustainability.

Market Overview and Industry Trends

• The mortgage broker industry has experienced a 10.3% annual growth rate since 2019, with over 20,780 mortgage broker businesses in the US market worth $26.6 billion (2025)
• There are over 40,000 mortgage professionals in the United States
• Americans owe $12.61 trillion on 85.10 million mortgages (2025), with an average mortgage debt of $148,120 per person
• Mortgages represent 69.9% of U.S. consumer debt
• The average purchase price for a home in the U.S. is $510,300 as of Q4 2024
• The North America Mortgage/Loan Brokers Market is expected to register a CAGR of 5% during the forecast period (2025-2030)
• Americans originated $1.69 trillion in new mortgage debt in 2024, up 12.9% from 2023
• 80.3% of mortgage originations were issued to super-prime borrowers with credit scores of at least 720
• Only 3.6% of mortgage originations were issued to subprime borrowers with scores below 620

Consumer Behavior and Real Estate Engagement

• Homebuyers spend 124 hours searching for a home before buying
• Users spend 55 minutes per session on real estate apps
• 43 million monthly visits to Realtor.ca in 2024
• 1.9 billion property page views on Realtor.ca annually
• 53% of people looked up their boss's house online
• 30% of people browse houses online to daydream about houses they can't afford
• 62% of people have looked up their neighbor's house value online
• 27% of people browse online listings to relax
• People start researching homes an average of 10 weeks before purchasing
• 82% of users want monthly home value updates
• 64% of homeowners check real estate prices even after buying a home
• 69% of homebuyers say shopping for real estate is "fun"

Lead Generation and Marketing Effectiveness

• 62% of consumers said a brand would lose their loyalty if they didn't deliver a personalized experience
• Text messaging has taken on new importance in mortgage customer engagement
• Video marketing has given 90% of marketers a good ROI, with 60% measuring ROI through engagement metrics
• Omnichannel marketing approaches combining digital and physical touchpoints are becoming more effective
• Direct mail effectiveness has increased for lead generation as more people work from home
• SMS/MMS video marketing has become a critical lead-generation tool in the mortgage industry
• Consumers prefer personalized text messages over voicemail for mortgage communications
• AI and data analytics are increasingly used to identify distinct customer segments and target individuals with personalized marketing messages

Customer Engagement Statistics

• The average open rate for email marketing campaigns across industries is 35.6%
• The average click-through rate (CTR) for email campaigns is 2.6%
• Email campaigns see an average bounce rate of 0.7%
• 40% of people open emails in mobile apps today
• Email marketing is still one of the best ways to grow a mortgage broker business
• Consistency in email marketing (schedule, formatting, voice, and topics) is crucial for mortgage brokers
• Including videos in mortgage emails increases open and engagement rates
• 80% of customers are more likely to purchase from companies offering personalized experiences
• 48% of consumers tend to spend more due to personalized messaging
• 74% of consumers respond positively to personalized communications

Technology Adoption in Mortgage Brokerage

• The global e-mortgage market is projected to grow from $12.1 billion in 2024 to $62.1 billion by 2034, with a compound annual growth rate (CAGR) of 17.8%
• The mortgage and loans software market is growing rapidly, from $16.08 billion in 2024 to $18.46 billion in 2025
• 62% of borrowers say an option for an online application influenced their decision in choosing a mortgage lender
• 60% of borrowers value an online portal for uploading documents
• 54% of borrowers who used an online application process like it because there was no need to meet in person
• 52% of borrowers appreciate a quicker time to close with online applications
• 44% of borrowers like the option to switch between digital tools and working with a person
• 42% of borrowers appreciate the flexibility to complete tasks at their convenience
• In 2023, 42% of adults were registered for mobile payments, an increase from 30% in 2022
• 34% of the population used mobile payments monthly

AI and Automation Adoption

• As of 2023, more than 80% of global companies have reported adopting AI to improve their business operations
• Use of generative AI increased from 33% in 2023 to 71% in 2024
• In October 2024, Better Home & Finance Holding Company launched Betsy, the first voice-based AI loan assistant for the US mortgage industry
• 37% of Financial Services firms globally adopt AI to reduce operational costs
• AI-powered automation handles routine tasks like data entry, contract management, and compliance checks throughout the loan lifecycle
• Machine learning algorithms can quickly analyze stacks of documents, identify potential problems, and assess risk far more efficiently than humans
• By 2025, 80% of customer service and support organizations will use generative AI to enhance agent productivity and improve customer satisfaction
• 84% of recent homebuyers say they are very or somewhat concerned about privacy and data security for digital verification

Client Retention and Referral Statistics

• The typical mortgage lender retains just 1 in 5 customers (20%) at the point of refinance or next purchase
• Servicers found more success with loans originated in the last two years with retention rates at 41% for 2023 originations and 34% for 2022 originations
• It can cost five to seven times more to acquire a new customer than to retain an existing one
• The real estate and financial sectors rank among the top ten industries with the highest customer acquisition costs (CAC), averaging $791 and $784, respectively
• A 5% increase in customer retention can boost ROI by 25-95%
• Loyal existing customers have a 67% higher average order value than new customers
• The chance of converting an existing customer is 60%-70% as opposed to the 5%-20% chance with new customers
• Better customer retention can help lenders boost referral traffic by 35%
• 60% of mortgage deals come from past clients and referrals
• Brokerages using engagement tools like BrokerBot had 82% referral rate vs 50% for those not using such tools
• Customers are 4x more likely to refer a broker they have engaged with recently
• 77% of customers said they're more loyal to companies that deliver great customer experiences
• Borrowers now rank customer experience higher than pricing as the main reason for choosing a mortgage lender

The Business Case for Automated Engagement Tools

• 29% customer retention rate for brokerages using automated engagement tools like BrokerBot vs 20% industry average
• Brokerages with higher client retention sell for 2-3x more than those with lower retention
• Brokerages using automated engagement tools closed 400 more deals on autopilot compared to those not using such tools
• At an average commission of $5,784 per loan, 400 extra loans brought $2.3 million in additional revenue
• Automated engagement tools cost approximately $1,000 per month or $12,000 per year
• To break even, a brokerage only needs to retain four extra clients
• Brokerages using automated engagement tools saw an increased retention rate of significant percentage in the first year

Conclusion: Why Client Engagement Matters for Mortgage Brokers

The statistics presented in this report demonstrate that client engagement is not just a nice-to-have but a critical business imperative for mortgage brokers. In an industry where customer acquisition costs are high and retention rates traditionally low, investing in tools that maintain client relationships through automated, personalized engagement offers significant competitive advantages.

The data shows that consumers spend substantial time online engaging with real estate content, checking home values, and browsing listings even when not actively in the market. This presents a prime opportunity for mortgage brokers to stay top-of-mind through regular, value-added communications.

With technology adoption accelerating across the mortgage industry and consumer expectations for digital experiences rising, brokerages leveraging automated engagement tools like BrokerBot are positioned to capture more repeat business, generate more referrals, and achieve higher profitability.

The most compelling statistic may be the simplest: it costs five to seven times more to acquire a new customer than to retain an existing one. For mortgage brokers looking to grow their business in a competitive market, focusing on client retention through automated engagement represents the most cost-effective path to sustainable growth.

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