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Thursday, 29 November 1973

Senator Webster asked the Minister representing the Minister for Housing, upon notice:

(   1 ) What is the latest interest rate applicable for loans to home builders.

(2)   What was the previous interest rate.

(3)   By what percentage has the interest rate been increased.

Senator Cavanagh - The Minister for Housing has provided the following answer to the honourable senator's question:

(1   ) and (2) There is no single interest rate charged by the various lenders of housing finance. An idea of the range and diversity of these rates can be obtained from the publication 'Housing Finance, Lending Terms and Conditions' issued by the Australian Department of Housing.

The following rates of interest currently charged by certain lending institutions offer a guide to recent movements in interest rates on housing loans.



(3)   From the above it can be seen that the increase has ranged from one-half of one per cent to one and three-quarters per cent, one per cent being the most common increase.

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