Banks Anxious About Mortgage Payment Delay

An increasing number of mortgage borrowers are finding it difficult to keep up with their payments as they see their incomes decline because of the sluggish performance of their employer firms, according to Nikkei. Private financial institutions held a combined mortgage balance of around 111 trillion yen as of the end of August, around a quarter of their total loans, according to the Bank of Japan. These banks have become increasingly concerned because they could suffer huge losses if there is a sharp increase in mortgage payment delays.