KMRC Raises Income and Mortgage Limits to Help More Buy Homes Amid Rising Rates

• KMRC increased monthly income limit for cheaper loans to Sh200,000 from Sh150,000 • Move aims to help middle class buyers as mortgages get costlier • KMRC loans have average interest rate of 9.5% vs 21% for standard mortgages • Ceiling on mortgage size also raised to Sh10.5 million to match house price rises • KMRC disbursed Sh2.4 billion in mortgages last year, average ticket Sh3.1 million