Four of Japan’s major banks announced that they will be reducing interest rates on new home loans this month.
The Bank of Tokyo-Mitsubishi UFJ will reduce the prime rate on their 10-year fixed-rate home loan by 0.05 points to 0.75%. Mitsui Sumitomo Banking Corporation, Mizuho Bank and Resona Bank will also reduce the rates on their 10-year fixed-rate loans by 0.05 points. Sumitomo Mitsui Trust Bank will leave their rates at their current level of 0.70%.
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