Home loan interest rates to increase in January
As anticipated, banks have increased the rates on 10-year fixed-rate mortgages this month. This is in response to the Bank of Japan expanding the trade band for 10-year government bond yields to a range of -0.5% and 0.5%.
Regional bank to offer 50-year home loans
The Miyazaki Bank, a regional bank headquartered in Miyazaki City, is now offering home loans with a 50-year term. This is an attempt to keep monthly repayments affordable as construction and home prices continue to rise.
Three banks to increase mortgage rates this month
Three of Japan’s five top mega-banks plan to increase home loan interest rates this month, while two will reduce rates.
Japan’s 5 megabanks to reduce interest rates this month
On July 29, Japan’s five megabanks released their home loan interest rates for the month of August. With the long-term interest rate kept within limits, all five banks will be reducing the base rate on 10-year fixed-rate mortgages.
Home loan interest rates lowered this month
Four of Japan’s five mega-banks have reduced the premium interest rate on new home loans offered in June. The rate reductions apply to 10-year fixed rate mortgages.
Fixed interest rates reach to reach highest level in 8 years
Five of Japan’s mega-banks announced plans to increase the premium interest rate on new home loans with a 10-year fixed rate. These rates will apply to new loans issued in May. Floating interest rates will not change.
Home loan rates rise as interest rate hits 6 year high
From the beginning of this month, Japan’s main banks have started to increase interest rates offered on home loans. This is due to the worldwide shift towards reducing monetary easing measures that have been in effect since the start of the pandemic. On January 31, Japan’s long-term interest rate reached 0.185%, the highest level in six years.