Home loan interest rates to reach record low in January

Mizuho Bank Interest Rate

Three of Japan’s major banks are lowering the prime interest rates on their 10-year fixed rate homes loans in January.

The Bank of Tokyo-Mitsubishi UFJ and Mizuho Bank will lower interest rates by 0.1 points to 1.15%, while Sumitomo Mitsui Trust Bank will reduce their rate by 0.1 points to 0.9%. It is expected that other banks will also lower their rates.

Large-scale monetary easing by the Bank of Japan has caused the long-term interest rate to reach a record low.Read more