After a year of holds, the Central Bank of Nigeria (CBN) appears poised to ease its monetary policy rate at the June meeting. Markets are pricing in further cuts through Q4.
Federal Mortgage Bank fixed rates remain steady around 9.5% on insured mortgages. Commercial bank rates are slowly compressing for the first time in 18 months.
If you're renewing this year, lock in a rate hold from your lender now and revisit your variable-vs-fixed decision closer to closing.