UAE home owners feeling weight of rising mortgage rates:
Property buyers in the UAE who have taken out mortgages can definitely share one sentiment with President Donald Trump — that the US Federal Reserve should stop hiking interest rates frequently.
Because each time the Fed does so, these property owners are staring at the possibility of higher payments on their mortgage exposures.
And right now, mortgage rates in the UAE are already at a 10-year high, with the average at 5-5.75 per cent and heading into the 6 per cent and over range with the next Fed increase, widely expected to happen next month.
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