The market is likely to see an increase in demand as buyers look to speed up their buying process to lock their mortgage product, and therefore their monthly payments, in place now, before they increase, Lewis Allsopp said.
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UAE Central Bank’s move to raise rates will “increase profitability for banks, lenders” and will help contain inflation: experts
Given the UAE economy’s impressive recovery from the pandemic, and the significant rise in oil prices, the impact of a rate hike on economic growth could be limited in the near term, experts said
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UAE Central Bank raises overnight deposit facility by 25 basis points
Decision follows US Federal Reserve Board’s announcement to increase interest on reserve balances