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Land Banks refinancing cuts maximum mortgage rate
Washington April 18 The Farm Credit Administration reports refinancing in the Orsha Federal Land Bank district lowers maximum mortgage loan interest from 5 percent. Analysis of loans in Wyoming, Nebraska, South Dakota and Iowa shows many 4 to 4 1/2 percent rates now in effect. Total loans closed in the period about 122.5 million. Prior rates ranged from 5 to 9 percent, with some 10 percent or higher. Average rate refinanced was 5.5 percent across all debts. Direct Bank loans carry 4 1/2 to 5 percent until July 12 1938, then 5 percent. Commissioner loans remain 5 percent. States shown: Iowa South Dakota Nebraska Wyoming.
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Washington
Farm Credit Administration
Orsha
Federal Land Bank
Wyoming
Nebraska
South Dakota
Iowa
Federal Land Banks
Land Bank
Joana
Omaha
Tate
Joans