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.
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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?What Is a Negative Interest Rate, and Why Would We Have Them?Mitsubishi 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.
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