Financial factors affecting the growth of mortgage financing in kenya a case study of commercial banks in embu

Abstract

Financial institutions serve as a source of credit for both businesses and consumers. Statistical findings have consistently demonstrated that having access to money, including credit, has a significant impact on having access to and being able to afford basic, good commodities. Mortgage loans are one of these credit facilities, and they are affected by interest rates as well as other macro- and microeconomic factors. The interest rate has consistently stayed high, preventing mortgage uptake, despite the central bank's influence on the interest rate charged on mortgages by different lenders. This study's goal was to look into how interest rates affected the number of mortgages taken out by Kenyan banking institutions. The multiple regression approach was used in this study along with a comprehensive research approach. The study made use of original data collected from a sample of Kenya Commercial Bank workers who were involved in mortgage finance in Embu County. Tables and graphs were used to illustrate the statistically analysed data using SPSS software