Wednesday, May 15, 2024
Wednesday, May 15, 2024
HomePet Industry NewsPet Financial NewsFive major Japanese banks to raise housing loan rates in January

Five major Japanese banks to raise housing loan rates in January

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Five major Japanese banks said Friday that they will raise their fixed housing loan rates in January in light of a rise in long-term government bond yields following a policy revision by the Bank of Japan.

The banks will raise their standard rates for 10-year housing loans by 0.10 to 0.34 percentage point. The standard rate will hit 3.70% at MUFG Bank and 3.79% at Sumitomo Mitsui Banking, both their highest levels since October 2013, as well as 3.50% at Mizuho Bank, its highest since November 2011.

Based on the standard rate, the prime 10-year loan rate will stand at 1.40% at Mizuho, 1.39% at Sumitomo Mitsui Trust Bank, 1.18% at Resona Bank, 1.14% at Sumitomo Mitsui and 1.05% at MUFG.

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