Mortgages drop by 1,270 as the cost of owning homes soars

Seven big banks controlled close to three-quarters of the market by December 2021. [iStockphoto]

Kenyans have continued to shun mortgages, with the number of home loans dropping to 26,723 last year.

A report by the Central Bank of Kenya (CBK) said this was a drop of 248 mortgage loans compared to 26,971 in 2020.