Mizuho to raise interest rates this month

Mizuho Bank announced that they will increase the prime interest rate on their 10-year fixed-rate mortgage from 1.45% to 1.50% for loan contracts signed in December.

The Bank of Tokyo-Mitsubishi UFJ (1.40%), Sumitomo Mitsui Trust Bank (1.10%), Sumitomo Mitsui Banking Corporation (1.45%) and Resona Bank (1.40%) will leave their prime lending rates at current levels.

Strong demand for home loans prior to the increase in the consumption tax rate from April 2014 has led to increased competition between banks.

The Asahi Shimbun, November 30, 2013.
The Mainichi Shimbun, November 29, 2013.

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