Which of the following encourages people to save towards owning a house?

Assessment: WAEC SSCE - Commerce - 2000 (Objective) Subject: Commerce

Question 1 Report

Which of the following encourages people to save towards owning a house?
Answer Details
Mortgage bank encourages people to save towards owning a house. Mortgage banks are specialized financial institutions that provide home loans to individuals and also accept deposits from them. They offer various mortgage schemes that allow people to save towards owning a house, such as fixed-rate mortgages, adjustable-rate mortgages, and interest-only mortgages. By encouraging people to save towards owning a house, mortgage banks help to promote home ownership and increase access to affordable housing.

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