Mizuho to raise interest rates this month
Mizuho Bank announced that they will increase the prime interest rate on their 10-year fixed-rate mortgage from 1.45% to 1.50% for loan contracts signed in December.Read more
Mizuho and Sumitomo Mitsui to lower interest rates
Mizuho Bank and Sumitomo Mitsui Trust Bank are lowering their prime lending rates on home loans this month.
Mizuho is reducing the interest rate on their variable and fixed-type mortgages by 0.1%, while Sumitomo Mitsui will be reducing their variable rate from 0.775% to 0.725%. This will be the first time since November 2010 that Sumitomo Mitsui has reduced their variable rate.Read more
Fixed or floating: Which type of home loan interest rate is right for you?
For many, buying a home is the largest purchase they will make in their lifetime, but it can also be one of the biggest debts they take on. Choosing the type of mortgage - fixed-rate or variable rate - can be a difficult decision to make.
Fixed-rate loans offer stability as the interest rate is fixed for the duration of the term. With variable-rate loans, however, there is a risk that you repayments may rise in the future. Variable-rates are typically reviewed twice a year.Read more