OCR Text |
Show FmHA Interest Rate Dropped The UJS. Department of Agriculture announced today that Farmers Home Administration Admin-istration (FmHA) housing loans to families of low and moderate income for single family homes will be made at an interest rate of 8-34 percent. per-cent. The previous rate of 9 percent had been in effect since Sept. 2. The new rate, effective Monday, will apply to FmHA loans to eligible families for purchase or improvement of individual homes. FmHA's rate is consistent with the current interest rate on housing loans insured by the Department of Houseing and Urban Development and Veterans Vet-erans Administration. The interest rate of 9 percent per-cent will continue to be applied ap-plied to FmHA loans for the development of rental and cooperative housing. Housing loans are administered admin-istered by FmHA in rural areas including rural towns of not more than 10,000 population, pop-ulation, and in certain designated desig-nated towns and cities with populations between 10,000 and 20,000. |