Pursuits
Amid Turmoil, Japan Housing Market May Get Boost From Lower Rate
- Shinsei Bank says home-loan and refinancing inquiries surged
- Tokyo home market has been shrinking as apartment costs rise
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The Bank of Japan’s adoption of negative interest rates two weeks ago hasn’t provided a lasting boost to stock investors or weakened the currency, but it has spurred some optimism for the housing market.
With interest rates and bond yields dropping to record lows due to the BOJ’s decision, the Japanese people are starting to notice. Shinsei Bank Ltd. saw a four-fold jump in inquiries about home loans after it cut some mortgage rates for a second time in February.