Housing loan demand supported by low interest rates and housing purchase support measures
First written in FY2018-Q3. 4 of 32 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2020: 6 of 16 companies on the "Worse" side.
5 other companies' latest entry also says "Other".
- FY2026Flat 35 recovery; sluggish growth in variable-rate productsAnnual report
「Originations of our core product, Flat 35, exceeded the prior-year level against a backdrop of a narrower gap between its interest rate and those of variable-rate products offered by financial institutions, as well as a shift in demand toward fixed-rate products in anticipation of further rate increases. Meanwhile, originations of variable-rate products remained sluggish.」
The Company continued to report for the full fiscal year that Flat 35 originations exceeded the prior-year level because the fixed-variable rate gap narrowed, while variable-rate products remained sluggish. - FY2026-H1Higher Flat 35 originations; variable-rate products remained sluggishAnnual report
「Originations of our core product, Flat 35, exceeded the prior-year level against a backdrop of a narrower gap between its interest rate and those of variable-rate products offered by financial institutions. However, originations of variable-rate products remained sluggish, causing origination-related revenue to decline 4.6% year on year.」
Fixed-rate Flat 35 originations exceeded the prior-year level as the rate gap narrowed, while originations of variable-rate products remained sluggish. - FY2025Narrower fixed-variable rate gap and signs of market recoveryAnnual report
「Since the second half of fiscal 2024, the Bank of Japan has gradually raised its policy rate as it has pursued monetary policy normalization, causing the gap between fixed and variable rates to narrow.」
Compared with the previous environment of variable-rate product dominance and Flat 35 weakness, the Company newly described a narrowing rate gap and growing demand for fixed-rate products since the second half of fiscal 2024. - FY2025-H1Variable-rate product growth coexisted with a weak Flat 35 marketAnnual report
「Although the Flat 35 market remained weak against a backdrop of the gap between fixed and variable rates, the increase in originations of variable-rate products, including bank agency products and ARUHI Home Loan (MG Guarantee), contributed.」
The Flat 35 market remained weak because of the fixed-variable rate gap, while originations of variable-rate products, including bank agency products and ARUHI Home Loan (MG Guarantee), increased. - FY2024Sharp increase in variable-rate originations, but loan origination services declinedAnnual report
「Although originations of variable-rate products, such as bank agency products and ARUHI Home Loan (MG Guarantee), which was introduced in August 2023, increased substantially to approximately 3 times the prior-year level, loan origination services declined 15.0% year on year because the Flat 35 market remained weak against a backdrop of the gap between fixed and variable rates.」
Variable-rate originations increased to approximately 3 times the prior-year level, while loan origination services declined 15.0% year on year because of continued weakness in the Flat 35 market. - FY2024-Q3Variable-rate products increased, but weak Flat 35 market reduced loan origination servicesAnnual report
「Although originations of variable-rate products, including bank agency products, ARUHI Super 40 and ARUHI Home Loan (MG Guarantee), which was introduced in August 2023, increased, loan origination services declined 24.8% year on year because the Flat 35 market remained weak against a backdrop of the gap between fixed and variable rates.」
Originations of variable-rate products increased, but the Flat 35 market remained weak because of the fixed-variable rate gap, resulting in a 24.8% year-on-year decline in loan origination services. - FY2024-Q2Variable-rate products increased, while the Flat 35 market remained weakAnnual report
「Although originations of variable-rate products, including bank agency products, ARUHI Super 40 and the newly introduced ARUHI Home Loan (MG Guarantee), increased, loan origination services declined 34.6% year on year because the Flat 35 market remained weak against a backdrop of a widening gap between fixed and variable rates.」
Originations of variable-rate products increased, while the Flat 35 market remained weak as the fixed-variable rate gap widened, resulting in a 34.6% year-on-year decline in loan origination services. - FY2024-Q1Weak Flat 35 market despite higher variable-rate originationsAnnual report
「Although the number of loans originated under variable-rate products, including bank agency products, increased, loan origination services declined 37.9% year on year because the Flat 35 market remained weak against a backdrop of the gap between fixed and variable rates.」
Variable-rate originations increased, but the Flat 35 market remained weak because of the fixed-variable rate gap, resulting in a 37.9% year-on-year decline in loan origination services. - FY2023Full-year weakness in the Flat 35 market and postponed purchasesAnnual report
「In addition to some customers postponing home purchases because of higher housing prices and inflation, fixed rates rose as long-term interest rates increased following the Bank of Japan’s adjustment of its monetary policy. This created a difficult market environment for the fixed-rate Flat 35, and total Flat 35 originations during the fiscal year declined 24.2% year on year.」
Postponed purchases due to higher housing prices and inflation, together with higher fixed rates caused by rising long-term interest rates, resulted in a 24.2% year-on-year decline in total Flat 35 originations for the full fiscal year. - FY2023-Q3Higher housing prices and lower real wages led customers to postpone purchases, reducing Flat 35 demandAnnual report
「In the housing-related industry during the nine months ended 31 December, the global inflationary trend that began in 2022 and the continued rise in housing prices resulting from higher construction-related material costs amid yen depreciation led both new housing starts and brokerage transactions to decline year on year.」
Inflation, yen depreciation, higher construction-related material costs and rising housing prices continued, resulting in year-on-year declines in new housing starts and brokerage transactions. The Company also explained that the downward trend in real wages led some customers to postpone home purchases. - FY2023-Q2Market slowdown due to inflation and yen depreciation; variable-rate products remained dominantAnnual report
「In the housing loan market, customers continued to favor variable-rate products more than before because of stronger demand for products with lower monthly repayments, a wider gap between fixed and variable rates, and intensified rate-cutting competition among banks against a backdrop of rising deposits. In the Flat 35 market, in addition to these trends, some customers began postponing home purchases amid rising housing prices, and the number of loans originated declined 19.2% year on year.」
Global inflation, the sharp depreciation of the yen and higher construction-related material costs continued to push up housing prices, while new housing starts and brokerage transactions declined year on year. Variable-rate products were selected more frequently, and Flat 35 originations declined 19.2% year on year. - FY2023-Q1Weak Flat 35 market and continued dominance of variable-rate productsAnnual report
「In the housing loan market, variable-rate housing loan products continued to predominate against a backdrop of a widening gap between fixed and variable rates and intensifying rate-cutting competition among banks as deposits increased. In the Flat 35 market, some customers, particularly younger people whose incomes had stagnated, postponed purchases amid rising housing prices, and the number of loans originated declined 16.5% year on year.」
The Company described a market environment in which variable-rate housing loan products predominated, while Flat 35 originations declined 16.5% year on year because rising housing prices led some customers to postpone purchases. - FY2022Demand remained firm throughout the year, but supply constraints and higher prices continuedAnnual report
「Demand for both new and used homes remained firm, supported by demand for relocation to more comfortable living environments as people spent more time at home due to the spread of telework, although the pandemic affected housing supply.」
Housing demand remained firm, supported by relocation needs, while supply-side constraints continued throughout the year, including the wood shock, higher crude oil prices and shortages and delays in housing equipment. - FY2022-Q3Market normalization coexisted with supply constraints and higher pricesAnnual report
「New housing starts gradually recovered and approached pre-pandemic levels, but procurement of construction materials remained unstable because of the wood shock and soaring crude oil prices, while shortages and delays in housing equipment continued, affecting some housing handovers. The number of brokerage transactions was recovering toward the third quarter after a period of weakness, but the shortage of residential properties caused by aggressive purchases by buy-to-resell operators and the continued rise in housing prices also affected housing demand.」
Although new housing starts and brokerage transactions were recovering, supply constraints affecting construction materials and housing equipment, shortages of residential properties and rising housing prices continued to affect demand. - FY2022-Q2Recovery expected, but used homes remained weakAnnual report
「New housing starts showed a gradual recovery, although they had not returned to pre-pandemic levels. In contrast, transactions in used condominiums and used detached houses were weak because inventory shortages relative to demand pushed prices higher.」
New housing starts showed signs of recovery, while used homes remained weak because of inventory shortages and higher prices. The Company also expected further recovery following the lifting of states of emergency and the increase in vaccination rates. - FY2022-Q1Housing-related markets recovered, but some slowdown remainedAnnual report
「New housing starts remained below pre-pandemic levels but gradually recovered, while transactions in used condominiums and used detached houses recovered to pre-pandemic levels.」
New housing starts recovered while remaining below pre-pandemic levels, and used-home transactions returned to pre-pandemic levels. The Company also described a slowdown caused by soaring property prices and states of emergency. - FY2021Recovery from deterioration at the start of the fiscal year from August onwardAnnual report
「Conditions were difficult at the start of the fiscal year due to the impact of COVID-19, but signs of recovery subsequently emerged, and new housing starts and transactions in used condominiums and used detached houses generally recovered from August onward.」
The Company explained that new housing starts and used-home transactions generally recovered from August after difficult market conditions at the start of the fiscal year. Uncertainty over when the pandemic would subside continued. - FY2021-Q3Housing-related markets gradually recovered; outlook expected to remain firmAnnual report
「The environment surrounding the housing-related industry in which the Group operates remained difficult due to the impact of COVID-19, but conditions were beginning to recover as economic activity resumed gradually. New housing starts and transactions in used condominiums and used detached houses were gradually recovering. The market outlook was expected to remain relatively firm, supported by a trend toward greater emphasis on a comfortable living environment as people spent more time at home and by the effect of the housing loan tax relief program. However, the outlook remained uncertain because the timing of the end of the spread of COVID-19 could not be foreseen.」
Although conditions remained difficult due to COVID-19, new housing starts and used-home transactions were gradually recovering as economic activity resumed. The Company described the outlook as relatively firm, supported by housing loan tax relief and related factors, while noting continued uncertainty over when the pandemic would subside. - FY2021-Q2Housing-related demand remained difficult, with partial recoveryAnnual report
「During the six months ended 30 September, the environment surrounding the Group remained difficult, with new housing starts declining year on year partly because of the spread of COVID-19. Although transactions in used condominiums and used detached houses also declined year on year during the period, they gradually recovered after the lifting of the state of emergency and returned to approximately the prior-year level, when demand had been boosted by the consumption tax increase.」
New housing starts and used-home transactions declined year on year, but used-home transactions recovered after the state of emergency was lifted and returned to approximately the level seen during the prior year’s rush demand. - FY2021-Q1Demand weakened during the state of emergency and recovered after its liftingAnnual report
「The housing-related industry in which the Group operates was also in a difficult and weak position during the state of emergency, with new housing starts and transactions in used condominiums and used detached houses in the Tokyo metropolitan area declining year on year. Following the lifting of the state of emergency, however, the market has been recovering gradually.」
The Company explained that housing-related demand temporarily weakened due to the spread of COVID-19 and the state of emergency, but that the market gradually recovered after the declaration was lifted. - FY2020Concern over a post-tax-increase decline and weaker demand due to COVID-19Annual report
「New housing starts have been declining gradually as a reaction to the consumption tax increase. In addition, with the economic outlook becoming extremely uncertain due to the spread of COVID-19, there are concerns that demand for housing loans may also decline.」
In addition to the previous explanation that low interest rates and housing purchase support measures were stabilizing demand, the Company expressed concern about a decline in demand due to the post-tax-increase reaction and the spread of COVID-19. - FY2020-Q3Limited post-tax-increase reactionary declineAnnual report
「New housing starts and transactions in used condominiums and used detached houses remained at roughly the prior-year level. The reactionary decline following the consumption tax increase was limited to isolated cases, unlike after the previous increase, owing in part to the expansion of various government housing purchase support measures.」
The Company explained that the reactionary decline in housing-related demand after the consumption tax increase was limited and that new housing starts and transactions in used homes remained broadly in line with the prior year. - FY2020-Q2Limited pre-tax-increase rush demand; demand remained stableAnnual report
「In the housing-related industry in which the Group operates, new housing starts and transactions in used condominiums and used detached houses were at roughly the prior-year level. Pre-increase rush demand ahead of the consumption tax increase was limited to isolated cases, unlike before the previous tax increase, owing in part to the expansion of various government housing purchase support measures.」
The Company explained that new housing starts and transactions in used homes were broadly in line with the prior year and that rush demand ahead of the consumption tax increase was limited. It provided a more specific explanation of stable demand supported by low interest rates and housing purchase support measures. - FY2020-Q1No pronounced impact from the consumption tax increase; demand remained stableAnnual report
「There was no pronounced impact from the planned increase in the consumption tax rate to 10% in October 2019. While new housing starts and the number of transactions in used condominiums and used detached houses in the Tokyo metropolitan area were modestly above the prior-year period, housing loan interest rates remained low and housing loan originations remained stable.」
The Company explained that the planned increase in the consumption tax rate to 10% had no pronounced impact and that housing loan originations remained stable as low interest rates continued. - FY2019RestatedAnnual report
「Low housing loan interest rates and government measures supporting home purchases have continued, supporting housing loan demand.」
The Company has continued to cite low interest rates and housing purchase support measures as drivers of housing loan demand. - FY2019-Q3RestatedAnnual report
「Low housing loan interest rates and government measures supporting home purchases have continued, supporting housing loan demand.」
The Company has continued to explain that housing loan originations have remained stable, supported by low interest rates and housing purchase support measures. - FY2019-Q2Housing starts softened, but loan originations remained stableAnnual report
「Low housing loan interest rates and government measures supporting home purchases have continued, and the number of housing loans originated has remained stable.」
Although the number of new housing starts declined year on year and remained weak, the Company explained that housing loan originations remained stable against a backdrop of continued low interest rates and housing purchase support measures. - FY2019-Q1RestatedAnnual report
「Housing purchase demand has remained firm, supported by continued improvement in employment and income conditions, the continuation of government programs supporting home purchases, and the Bank of Japan’s monetary easing policies, which have kept housing loan interest rates at low levels.」
The Company continues to cite employment and income conditions, housing purchase support programs, monetary easing and low interest rates as drivers of housing purchase demand. - FY2018RestatedAnnual report
「Housing purchase demand has remained firm, supported by continued improvement in employment and income conditions, the continuation of government programs supporting home purchases, and the Bank of Japan’s monetary easing policies, which have kept housing loan interest rates at low levels.」
The Company has consistently cited low interest rates, government housing purchase support and employment and income conditions as drivers of housing purchase demand. - FY2018-Q3First statedAnnual report
「Housing purchase demand has remained firm, supported by continued improvement in employment and income conditions, the continuation of government programs supporting home purchases, and the Bank of Japan’s monetary easing policies, which have kept housing loan interest rates at low levels.」
The Company explained that lending rates for Flat 35 remained at historically low levels and that demand for new borrowing was solid.