Home loan interest rates to increase in January
As anticipated, banks have increased the rates on 10-year fixed-rate mortgages this month. This is in response to the Bank of Japan expanding the trade band for 10-year government bond yields to a range of -0.5% and 0.5%.
Regional bank to offer 50-year home loans
The Miyazaki Bank, a regional bank headquartered in Miyazaki City, is now offering home loans with a 50-year term. This is an attempt to keep monthly repayments affordable as construction and home prices continue to rise.
Three banks to increase mortgage rates this month
Three of Japan’s five top mega-banks plan to increase home loan interest rates this month, while two will reduce rates.
Japan’s 5 megabanks to reduce interest rates this month
On July 29, Japan’s five megabanks released their home loan interest rates for the month of August. With the long-term interest rate kept within limits, all five banks will be reducing the base rate on 10-year fixed-rate mortgages.
Home loan interest rates lowered this month
Four of Japan’s five mega-banks have reduced the premium interest rate on new home loans offered in June. The rate reductions apply to 10-year fixed rate mortgages.
Fixed interest rates reach to reach highest level in 8 years
Five of Japan’s mega-banks announced plans to increase the premium interest rate on new home loans with a 10-year fixed rate. These rates will apply to new loans issued in May. Floating interest rates will not change.
Home loan tax deduction may be reduced in 2022
The cash loophole from the 1% home loan income tax deduction is about to be closed as the government looks to revise the percentage down next year.