Several of Japan’s main banks will be increasing the interest rates offered on their fixed-rate home loans this month.
Mizuho Bank will increase their 10-year fixed interest rate by 0.1 points to 0.80%. This is 0.15 points higher than the historic low of 0.65% reached in August 2016. Sumitomo Mitsui Trust Bank will increase prime rates for 15 ~ 30-year fixed-rate home loans by 0.1 points from last month to 0.85 ~ 0.95%, but will leave their 10-year fixed rates at 0.45%. The Bank of Tokyo-Mitsubishi UFJ will leave their 10-year rate at 0.60%.
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