| Abstract: | The study examined the demand for mortgage finance in Nigeria by three categories of mortgagors, namely those who demand credit for owner-occupier housing units (social loans), multiple housing units (economic loans) and real estate development (commercial loans) from the Federal Mortgage Bank (FMB). Using cross-sectional data in estimating a multiple linear regression demand model for mortgage finance in Nigeria, the author found that: (1) mortgage rate and loan-income ratio were positively and significantly related to demand for mortgage credit. These two variables were not deterrents to demand for mortgage credit in Nigeria, contrary to the experience of many developed countries; (2) noninterest credit terms such as annual disposable income and down-payment ratio were, as expected, statistically significant variables in explaining demand for mortgage finance; (3) the Nigerian housing finance market is characterized by excess demand for mortgage credit and given the limited resources available to the FMB, it practises credit rationing. Bibliogr., sum. also in French. |
AfricaBib 
Periodical article
Leiden University catalogue
WorldCat
