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Wednesday, 16 November 1938

Mr Clark k asked the Treasurer, upon notice -

Has he any comment to offer on the report in the. Sydney Morning Herald of the 9th November, 1938, that "financial difficulties are . . . making it hard for the individual purchaser of a home to find the money to complete the deal. Interest rates are perceptibly stiffening . . .".

Mr Casey - The answer to the honorable member's question is as follows : -

I have read the report referred to by the honorable member. The best information available to me indicates that there is no appreciable hardening of interest rates. On the subject of money available for building I would refer the honorable member to a report which appeared in the Melbourne Argus of the 3rd November, 1938, to the effect that a moderately quiet demand was experienced for mortgage money in October, and that there are ample funds available for investment in first-class mortgage securities.

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