New Housing Stimulus Package

Posted by Jim Ivanoff
December 7th, 2009

The Japanese government will introduce a new stimulus measure in order to boost housing starts in 2010. The program will offer home buyers mortgage rates that are 1% lower for the first 10 years. Currently the rate is about 2.6% on a 35 year mortgage so this would drop to 1.6%.

To qualify for this program, the homes built must be either energy efficient, barrier-free, or earthquake resistant. The government will commit approximately $3 billion to this incentive program.

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