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  • Writer's pictureAdam German

SMBC, Mizuho and Resona raise home loan rates, UFJ and Flat 35 lower theirs

Against the backdrop of a rise in long-term interest rates, three major banks have increased their 10-year fixed interest rates for housing loans starting from February.


The most favorable rate for a 10-year fixed interest loan has been raised by Sumitomo Mitsui Banking Corporation by 0.05%, reaching 1.14%. 


Similarly, Mizuho Bank has increased rates by 0.1% to 1.45%, and Resona Bank has raised their rate by 0.14% to 1.66%.


Conversely, Mitsubishi UFJ Bank has decreased their rate by 0.16% compared to the previous month.


For variable-rate housing loans linked to short-term interest rates, all banks have kept their rates unchanged.


For Flat 35 loans with a financing rate of less than 90% and a borrowing period of 21 years or more, the interest rates range from 1.820% (a decrease of 0.050% from the previous month) to 3.470% (an increase of 0.100%). 


The most frequently offered interest rate by Flat 35 affiliated banks is 1.820% (a decrease of 0.050%), marking the third consecutive monthly decline.


For loans with a financing rate of less than 90% and a borrowing period of 20 years or less, the interest rates range from 1.340% (a decrease of 0.050%) to 2.990% (an increase of 0.100%). 


The most frequently offered interest rate is 1.340% (a decrease of 0.050%), experiencing a decline for the third consecutive month.


Sources:

R.E. Port News (Japanese only)


Yahoo News Japan (Japanese only)

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