Vernal Express | 1976-01-29 | Page 15 | Utah Bankers See Growth in 1976

Utah bankers see growth in 1976 Results from a survey just completed by the Utah Bankers Association indicate an expected expected expected ex ex- ex- ex increase in mortgage loans by Utah's bankers during 1976 TJ This s coincides with a projected healthy upturn upturn in Utah's economy The survey taken coincidental coincidental coin coin- to the end of 1975 among both the large and sma small i institutions which are members of the Utah Bankers Association was primarily directed towards mortgage loan activity in 1975 and its use as a barometer of the economy in general TABULATIONS of the survey show these financial professionals do see a correlation between the volume of mortgage loans and how the economy is doing 79 percent of those responding stated that tha t the total amount of mortgage loans was greater in 1975 than the year before 77 percent expect still greater mortgage loan activity in 1976 With 24 percent of those surveyed responding a majority see substantial growth in both their local communities and in Utah in general indicating indicating indicating in in- Utah's economy fluctuates less during more difficult times limes than in some other areas of the country BANKERS ALSO noted that 64 percent of a all mortgage loans last year were made for residential purposes In the themore themore themore more rural areas of Utah the percentage was much closer to 95 percent 17 percent of the loans were for sma small business 13 for industry and two percent for agriculture