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Show a monday, I "I november21 , 1977 m Commercial mortgage rate stability could be drawing to an end long period of stability in apartment and commercial mortgage rates may be nearA ing an end. average of these rates remained stable in October for the sixth straight month, Citicorp Real Estate, Inc. reported in its monthly survey of benchmark mortThe gage rates. But thrift institutions in markets are talking of imminent rate rises, says Citicorp Real Estate, Inc. president Philip Kozloff. Some institutions have already posted 14 percent rate hikes and a couple have withdrawn from the income mortgage market. A fear of potential disintermediation if short-terrates keep rising is behind these moves. hot-mone- y m He has heard no talk yet changes from life insurance companies, Kozloff added. of rate Lenders, especially life ' Kozloff said, companies, are still willing to extend themselves with lower rates of longer terms for projects they regard as landmarks because of their size, location or design. If the deal is for the last possible building in a good area or for the first building in a very premising new area, competition among lenders may be acute." Some loans on these highvisible projects, Kozloff says, arc being made for terms up to 35 years. Some are committed before leasing ly is completed. of jects. existing proSome major lenders with mortgage fund allotments requiring investment were bidding before year-en- d eagerly for such projects. Others had filled their 1977 allotments and were only interested in loans that could be funded in 1978 or later. There is some regional diversity within the recent static trend, Kozloff observwell-rente- d es. Rates are slightly higher than the national benchmark and lending conditions are tougher than elsewhere in Florida and Georgia. It's a reaction to the extent of overbuilding there in 1972-7even though the Florida markets for office and shopping center space have firmed up nicely and demand is reviving in other southeastern mar4, kets. Rates are also higher than the national average and there are some hints they may go higher still in areas such as Houston which have had heavy recent activity." I.' Benchmark rates Citicorp Real Estate, Inc.s cnd-of-Octob- bench- er mark rates for all categories of income-propertmortgage remain on the plateau they have held since May. The benchmark rate on new apartments is percent, and that for commercial or industrial projects secured by strong tenant y credit is The 8-3- percent. percent rate is 8 available only to Mixed market There was a mixed market in October for refinancing AAA-cred- it tenants (telephone company subsidiaries or the equivalent in financial strength.) JAMES L. NEVILLE & ASSOCIATES Our organization offers a stimulating sales career, with emphasis on business and personal financial planning. TRAINING is thorough and professional. F TH E EGYPTIANS HAD KNOWN ABOUT CONCRETE, THEY WOULD HAVE USED IT. I in Utah is Our associates handle pension plans, estate analysis, life insurance programs, employee benefits, business long lasting durableno maintenance better resaleHower insurance We have 50 years experience in the concrete business. Both the buildings we construct and the materials we sell will last through insurance, and many other services. 9 I NCOME consists of a generous salary and commission plan during our initial 3 year training program. Our senior associates earn from $25,000-$40,00and up. 0 INDEPENDENCE like no other career. Established associates set their own schedules, choose their own clients, and operate without territorial limits. INTERESTED? Please call us at 322-56- 09 an interview, or send your resume to: the ages. to arrange k EXEEna to LI7TLE AMERICA on tfr uMiuivtiuh ul then rit'tt concrete building JOSEPH BRUSATTO, CLU 41 ' 'M , South 300 East Salt Lake City, Utah READY MIX 841 11 1 7 .10 HECK STREET s PRECAST PRESTRESS SAND BLASTING-GRISPECIAL SANDS P O. BOX SJ7 SAL T LAK t Cl GRAVEL ASPHALT SLAG T V. UT AH 14 1 J O 01 JS9 3701 |