On August 6th, the Japan Housing Finance Agency announced new mortgage lending for residential properties by major financial institutions totaled ¥20.89 trillion in fiscal year 2023, representing a 0.8% increase from the previous year (Year-on-Year or YoY).
This marks the eighth consecutive year that new lending has remained in the ¥20 trillion range.
Total mortgage lending can be broken down as follows:
Domestically Licensed Banks: ¥16.3 trillion (5.8% YoY increase)
Credit Unions: ¥1.6 trillion (unchanged YoY)
Labor Banks: ¥1.4 trillion (6.6% YoY decrease)
Flat 35 Fixed Rate Mortgages: ¥900 billion (40.0% YoY decrease)
At the end of the fiscal year, the outstanding balance of mortgages rose by 2.5% YoY to ¥221.37 trillion.
Sources:
R.E. Port News (Japanese Only)
Japan Housing Finance Agency FY 2023 Granular Data (Japanese & partial English)
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