Private mortgage insurance market projected to rise to $9.7b by 2029

The market is slated for a 9.5% growth this year.

The global private mortgage insurance (PMI) market is expected to continue its steady expansion, rising from $6.24b in 2024 to $6.84b in 2025, according to The Business Research Company. 

This represents a compound annual growth rate (CAGR) of 9.5%. North America remains the largest PMI market as of 2024, whilst the Asia-Pacific region is expected to post the fastest growth through the forecast period.

The market’s recent growth has been supported by improved capital management by banks, increased default risk amidst economic uncertainty, greater awareness of PMI cancellation options, wider use of mortgage brokers, and stronger financial education efforts.

Looking ahead, the market is forecast to reach $9.71b by 2029, growing at a CAGR of 9.2%. 

The expansion will be driven by rising home prices, increasing housing demand, urbanisation, a growing middle class, and government incentives for homebuyers.

Emerging trends shaping the market include the use of AI-driven risk assessment tools, digital mortgage platforms, automated underwriting systems, fintech integration, and blockchain-based data protection.