Q. What are the mortgage rate trends in Rwanda?

In Rwanda, mortgage rates have been relatively high compared to other countries. Currently, the average mortgage rate is around 17-20% per annum. However, rates can vary depending on the lender, loan term, and borrower’s creditworthiness. The National Bank of Rwanda, the country’s central bank, has been working to increase access to affordable housing finance. Some commercial banks and microfinance institutions offer mortgage loans with rates as low as 14-15% per annum, but these often come with stricter eligibility criteria. It’s worth noting that the Rwandan government has introduced initiatives to support affordable housing, including subsidies and guarantees for mortgage borrowers. Despite these efforts, mortgage rates remain relatively high, making it challenging for many Rwandans to access affordable housing finance.