Despite the Central Bank of Kenya (CBK) significantly lowering its benchmark interest rate to 8.75%, leading to more competitive mortgage products from commercial banks, the majority of Kenyans are still unable to afford homeownership primarily due to insufficient income to qualify for loans.

• Outstanding banking-sector credit to real estate saw a marginal increase of only 0.13% between April 2025 and April 2026.
• Banks like KCB are offering new products with rates starting at 8.9% and financing up to 105%, but income qualification remains the key hurdle.
• The Kenya Mortgage Refinance Company (KMRC) has provided Sh19.6 billion in long-term funding, supporting over 5,000 mortgages, though income sufficiency is still a requirement for borrowers.