DEARER MONEY
EFFECT ON MORTGAGES
(By Tulcgraph.)
(Special to "Tie Evening Post.")
AUCKLAND, This Day.
Interviewed concerning the probable effects of the higher interest rates on Government stock, Mr. A. I. Johns, general manager of the New Zealand Insurance Company, said thafhe did not anticipate the issue of debentures and inscribed stock at 5Yz per cent., an advance of 3-8 per cent, on current issue, would have any immediate effect on mortgage rates. Mr.. Johns said that the increased rate offered by' the Government was simply an indication of the financial position. Six per cent, was the best rate offering on mortgages, and it was lower in the south, where 5% per cent, was the most attractive rate obtainable.
There, was a better market for money in Sydney, where 7 per cent, was being offered freely on first-class city properties.
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Bibliographic details
Evening Post, Volume CIX, Issue 6, 8 January 1930, Page 12
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140DEARER MONEY Evening Post, Volume CIX, Issue 6, 8 January 1930, Page 12
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