Have you ever wondered how global economic shifts can impact your home loan interest rates? The UAE is no exception to these ripple effects that cross oceans. This became evident when the US federal government decided to hike its treasury rates. This move triggered a chain reaction that influenced home loan rates across the globe. The UAE, with its robust and dynamic financial market, felt this shift keenly.

While there has been a noticeable rise in interest rates recently, taking a long-term view shows that rates are still hovering around historical averages over the last 15 years. This demonstrates the adaptability and resilience of the UAE’s financial institutions in the face of global shifts.

In the midst of these fluctuating rates, the aspiration to own homes in the UAE remains strong. In fact, with rentals on the rise, many residents are now considering the financial wisdom of buying over renting and seeking mortgages in Dubai. 

As an experienced mortgage broker catering to these home buyers, My Mortgage has cultivated strategic partnerships with banks and lenders. These relationships empower us to offer interest rates that often beat prevailing market rates.

For instance, while the 3-month EIBOR rate currently sits at 5.47% and the average bank margin is 1.69%, that sets the variable rate at 7.16%,  we can secure significantly lower fixed rates of 4.24% for three years and 4.44% for five years.[terms & conditions apply] This divergence from benchmark rates equates to real savings for individuals seeking home finance in UAE.

Additionally, with our holistic approach to homeownership, we’re here for the long haul. When your initial fixed-rate period wraps up, we will step in to negotiate the best possible new rate for you, ensuring you always enjoy the most favourable terms.

In summary, the world of mortgage rates may seem complex, but with guidance from industry experts like our team at My Mortgage, you can navigate the landscape to your advantage. Whether you’re buying your first home or building an investment portfolio, understanding your options and making informed choices is key to financial success, even during times of economic uncertainty. Our expertise and partnerships empower us to secure optimal and best home loan rates in the UAE.