The mini spike in real estate lending from the drop in rates is already fading:

The Japanese economy shrank 7.1 percent on an annualized basis in the fourth quarter of 2019, worse than an initial estimate of a 6.6 percent contraction and following a downwardly revised 0.1 percent growth in the previous three-month period. That was the biggest slump in GDP since the second quarter of 2014 as private consumption dropped 10.6 percent as a sales tax hike in October weighed on spending. Also, business spending declined by 17.3 percent, the most since the first quarter of 2009. Japan GDP Growth Annualized – data, historical chart, forecasts and calendar of releases – was last updated on March of 2020.