President Uhuru Kenyatta on Wednesday launched the Kenya Mortgage Refinance Company.
The initiative is a partnership between private investors and the national government.
Speaking during the launch, Uhuru said that his government is committed to transforming the lives of Kenyans.
Uhuru, who is in his second and final term in office, reiterated that the Jubilee regime has the interests of the Kenyans at heart. He said that his government has put in place several measures to ensure they have access to good housing plans.
"The intervention is based on the recognition that reaching the goal of adequate, safe and affordable housing for all, especially the lower income groups, requires a fundamental rethinking of the traditional approaches used in the past,” Uhuru said.
The Head of State also noted that he is ready to protect homeowners from any form of mistreatment as they invest in different areas of the economy.
“Fixed rate mortgages will protect home owners from the risk of interest rate volatility hence allowing them to be in control of their monthly commitments and afford their homes," he added.
Homeowners have in the recent past been questioning the role of the government in the housing industry considering the high mortgage rate.