The value of outstanding mortgages issued by local banks rose by 5.3 percent in the year ended December 2021, defying a decline in the number of active homeownership accounts due to lenders issuing larger amounts per loan to borrowers.
The 2021 bank supervision annual report published by the Central Bank of Kenya (CBK) shows that outstanding mortgages totalled Sh245.1 billion by December 2021, up by Sh12.4 billion during the year.
