Four major Japanese banks (Bank of Tokyo-Mitsubishi UFJ, Mizuho, Sumitomo Mitsui and Resona) have announced that they will be increasing their prime interest rates on their 10-year fixed rate home loans this month.

Mizuho are increasing their rates by 0.05 points to 1.65%, while the other three banks are increasing their rates by 0.1 points to 1.70%.

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