On December 2, the Japan Housing Finance Agency (JHF) announced the December 2024 interest rates for its long-term fixed rate "Flat 35" mortgage program, offered through participating financial institutions.
Flat 35 website hero image from their top page, courtesy of the JHF.
For loans with a borrowing ratio of 90% or less and a repayment period exceeding 21 years:
Rates range from 1.860% (up 0.02 percentage points from November) to 3.570% (up 0.10 points).
The most frequent rate is 1.860% (up 0.02 points), marking the second consecutive monthly increase.
For loans with a borrowing ratio of 90% or less and a repayment period of 20 years or less:
Rates range from 1.470% (up 0.02 points) to 3.180% (up 0.10 points).
The most frequent rate is 1.470% (up 0.02 points), also rising for the second consecutive month.
What is the Flat 35 mortgage program?
Flat 35 loans are long-term fixed-rate mortgages in Japan, offered through financial institutions in collaboration with the Japan Housing Finance Agency.
They are designed to provide stable interest rates for the entire loan period, making them a popular choice for homebuyers seeking predictability and affordability in their housing payments.
Rising Flat 35 rates increase the cost of long-term mortgages, affecting home affordability.
Sources:
R.E. Port News (Japanese only)
Japan Housing Finance Agency Flat 35 Mortgage Info Page (Japanese only)
