The Bank of Japan’s second interest-rate hike in nearly two decades is set to impact millions of personal mortgages, raising borrowing costs for homebuyers for the first time in a generation.
See Also
The 5 Countries With the Lowest Interest RatesThe Effectiveness of Japan’s Negative Interest Rate PolicyWho wins and who loses because of negative interest rates?Quantitative Easing in JapanMitsubishi UFJ Financial Group Inc., Japan’s largest bank, said it plans to increase the short-term prime rate for the first time in 17 years in September following the central bank’s move on Wednesday. Other lenders are expected to follow. About 75% of personal mortgages in Japan are floating-rate loans tied to the short-term prime rate set individually by banks.
