Show 1 11 CUT cull IN 11 II 0 L I 1 C RATES KATES littere interest st A in ili proposal liopo j fur for congressi notion action to rt induce duco lir in evrest rules rates wid hid extend entend the period of of iloine owners iman corporation loans hits him been beell alik what would in be ti alio 0 effect of these tin the hoard board of directors hits gone un on recard that tu reduction of the til L flo five per evitt rato ant Is jus rifled reached in hi the of charles A jonah kiril Gell ki uil real manager tire ro tito clini igus would litimo little or no effect on oil future tito the proposed ed would result in heavy losses which the tax aayers would ultimately have to pay imy there la Is no recil deacre or demand on the part ot borrow PIS ers for such auch ch changes angeo collect lona low tire arc continua I 1 ly improving and its rato rate of fore closures lias has pay led tho the peak the must bo be permitted to build up tit reserves to meet losses leases A lowering of interest rates would seriously influence the general homo home mortgage market tito savings of millions of people in ili lending leading institutions would he be adversely affected of modification of terms terina have asked that interest rak rates a bo be reduced toa to a range is as low as ar 2 per cout cent and that talo present amortization period bo be extended from the present fifteen years to periods ranging up tip to twenty y yeara on rs Is tills this tho the catch in ili his statement mr jones jonea say saya a that borrowers aro are not for the most part asking for changes but that th tho movement cornea comm from a fumall group who believe that they cuil can reap a financial advantage by organizing for congressional action tito the statement says that litt little 10 bonet lt would accrue to borro borrowers wem by tho the proposed change A lowering of rates the statement says would seriously upset the home mortgage market and thus have havo its price effects on those owning homes and those who have 1 their sa savings aings in mortgage lending institutions |