Business Services Industry
2 major Japan banks cut 10-year fixed mortgage rate to 3.65 percent.
Knight Ridder/Tribune Business News, September, 2004
Kyodo News International, Tokyo Knight Ridder/Tribune Business News
Sep. 1--TOKYO -- Sumitomo Mitsui Banking Corp. and UFJ Bank separately said Wednesday they lowered the interest rate on 10-year fixed-rate mortgage by 0.4 percentage point to 3.65 percent per annum.
The cutback was implemented in tandem with falling long-term interest rates.
The yield on the bellwether 10-year Japanese government bond slid Wednesday by 0.025 point over the previous day to a three-month low of 1.510 percent, amid growing concern the economy may be losing steam.
Meanwhile, the Bank of Tokyo-Mitsubishi and Mizuho Bank opted to keep the rate on their own 10-year fixed-rate mortgages at 3.7 percent.
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