Japanese rush into flexi-rate mortgages raises concerns
Proportion of such home loans in Feb jumps to 42.8%, highest since Dec
[TOKYO] Japanese homebuyers are piling into floating-rate mortgages, stirring debate over whether they are too complacent as Bank of Japan (BOJ) stimulus revives inflation.
The proportion of home loans with adjustable rates climbed to 42.8 per cent of Japan's new lending in February, the highest since December, according to data from Japan Housing Finance Agency (JHFA). The lowest variable mortgage rate at Japan's three biggest banks was at 0.775 per cent, compared with a 10-year fixed rate of 1.3 per cent.
Outstanding housing loans to individuals expanded to 113.7 trillion yen (S$1.38 tri…
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