Japan's Mortgage Rates Are Going Up Tomorrow

Or are they?

I keep a track of mortgage rates by dropping into SMBC Prestia (the old Citibank) periodically, and at lunchtime today the nice teller lady told me rates were going up tomorrow. And she wrote the new rates down for me.

Curiously, the floating rate is going up a few bps, but the 10 year fixed is coming down. It is no wonder the banking sector is rallying, mopping up new mortgages at absurdly low rates becomes a gravy train when the BoJ raises rates again and loan portfolios start performing.

For home buyers, a suburban house; either a fixer-upper, a refurbished old one or many of the new houses, are within the financial reach of anyone with a job. If as a foreigner you have some savings to fix up an abandoned property, you can even get one for free and subsidies to help you renovate. There are about 9 million abandoned homes in need of TLC.

Ballooning immigration

One of the reasons immigration is about to balloon is Japan desperately needs to bolster population numbers. The new government, with a new prime minister will be firmly behind it.

For subscribers to Astris Advisory research, I have published a report today on the topic of mass immigration and who the beneficiaries are. If you do not subscribe, please contact Astris here: Japan's Mass Immigration

Also, if you are an institutional investor in London...

London Japan Equity Strategy Seminar

We are hosting a strategy seminar for institutional investors in the East India Club in the afternoon of 10th October.

We are looking forward to a lively conversation on Japanese equity strategy, the outlook for the economy, rates, where the stock market is likely to go in 2025 and the best ideas from our team of expert analysts in autos, telecoms, technology, commodities and strategic equities.

To register your interest or find out additional information, click here: Seminar