The Japan Housing Finance Agency announced that the interest rate for 35-year mortgage loans in Japan will increase on November 1st.
Interest rates in Japan with a borrowing period of 21 years or more will now range from 1.17% to 1.87%. This move will signal a .06% increase in home loan rates, the first time the rate has risen in six months.
The borrowing period of loans that are 20 years or less will see interest rates set between 1.12% to 1.82%, also a .06% increase from the previous six month period.
50-year term loans will see rates range from 1.54% to 2.04% per year when the borrowed amount is 90% or less, and 1.80% to 2.30% per year when it is over 90%.
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