Japan Megabanks to Raise Fixed-Rate Mortgage Loans

Jan 31, 2026 | News On Japan

TOKYO - Three major banks, including Mitsubishi UFJ Bank, announced that they will raise fixed mortgage rates applied from next month. The preferential rate for the standard 10-year fixed mortgage will be increased to 2.75% at Mitsubishi UFJ Bank and Mizuho Bank, while Sumitomo Mitsui Banking Corp. will raise the rate to 2.85%.

The main factor behind the move is the rise in long-term interest rates, which serve as the benchmark for fixed-rate loans.

Long-term yields temporarily climbed to around 2.3%, the highest level in roughly 27 years, amid concerns over fiscal deterioration as both ruling and opposition parties call for consumption tax cuts ahead of the House of Representatives election, with voting scheduled for next month on February 8th.

While tax cuts are being discussed as a measure to address rising prices, if markets perceive that funding sources are unclear, higher interest rates could result instead, potentially increasing the financial burden on households.

Source: TBS

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