TOKYO -- The Bank of Japan's two most recent interest rate hikes add roughly 8,000 yen ($51) to the average monthly mortgage payment in the country, Nikkei calculations show, in some cases canceling out the tax benefits of homeownership.
Bank of Japan
BOJ rate hikes add $50 to Japan's average monthly mortgage payment
Higher rates squeeze homeowners by offsetting tax breaks
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The Bank of Japan's rate hikes are seen pushing up mortgage rates, which lenders in the country typically adjust every five years. (Photo by Nikkei)
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