Banks to increase home loan interest rates in June
Several of Japan’s retail banks will increase the interest rates on their home loans this month.
Both the Bank of Tokyo-Mitsubishi UFJ and Mitsui Sumitomo Banking Corporation will increase the prime interest rate on their 10-year fixed rate home loans by 0.05 points to 0.75% and 1.05% respectively. Mizuho Bank will leave their rates at 0.85%.Read more
Home loan interest rates to rise in January
In January, several of Japan’s major retail banks will increase the interest rates on their home loans.
The Bank of Tokyo-Mitsubishi UFJ will increase the prime interest rate on their 10-year fixed rate home loan by 0.05 points to 0.65%. This is their first rate increase in four months. Sumitomo Mitsui Trust Bank will increase their 10-year fixed rate by 0.05 points to 0.50%. Their 10-year rate reached a low of 0.35% in August 2016. Resona Bank and Mitsui Sumitomo Banking Corporation will increase their rates by 0.05 points to 0.90% and 0.85%. Read more
Home loan interest rates set to rise this month
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%.Read more
Real estate company president and buyer arrested for mortgage fraud
On November 25, the Osaka Prefectural Police arrested the president of an Osaka-based real estate company and one of their customers for alleged mortgage fraud.
The police claim that the company boss produced false income certificates that were almost-perfect forgeries of official documents issued by local governments. Of the 190 loans obtained for the company’s clients, 150 were reportedly obtained using forged income documents. The majority of the buyers have been making mortgage repayments without any problems.Read more
Five banks to reduce home loan interest rates in August
Five of Japan’s mega-banks will reduce the interest rates on their home loans this month.
The 10-year fixed-term interest rates on home loans for new customers will be reduced between 0.05 to 0.10 points from last month, reaching record lows.Read more
Banks to reduce interest rates in June
Several of Japan’s mega-banks will reduce the interest rates offered on new home loans this month.
Both the Bank of Tokyo-Mitsubishi UFJ (MUFJ) and Sumitomo Mitsui Banking Corporation (SMBC) will reduce the prime rate on their 10-year fixed-rate mortgages by 0.05 points to 0.85%. Sumitomo Mitsui trust Bank will reduce their rate by 0.05 points to a record low of 0.50%.Read more
Home loan variable-rates drop below 0.5%
Sony Bank will reduce their variable home loan interest rates to 0.499% from April 2016. With the exception of banks offering campaign discounts, this makes Sony the first bank to reduce rates below the 0.5% range. After the Bank of Japan introduced negative interest rates in February, retail banks have been lowering interest rates offered to consumers. Until recently, banks were only reducing interest rates on fixed-rate loans, but it is now spreading to variable rate plans as well.Read more