Interest Rates
The average rate of interest on new mortgages increased in June from 5.36 per cent, to 5.51 per cent., according to the monthly issue of the Abstract of Statistics. The average remained at 5.36 per cent, during March, April, and May. The increased rate is the highest monthly rate since the calculation of the average rate for each month began in 19K». and it is also the highest rate since the average rate of 5.56 per cent, for the year ended March 31. 1934, says the Department of Statistics.
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Bibliographic details
Press, Volume CI, Issue 29931, 19 September 1962, Page 8
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91Interest Rates Press, Volume CI, Issue 29931, 19 September 1962, Page 8
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