February 21, 1957 (22nd Parliament, 5th Session)

L L

William Moore Benidickson (Parliamentary Assistant to the Minister of Finance)

Liberal Labour

Mr. Benidickson:

Some members have
made some comparison of the terms of a farm loan with those of a loan that would be provided in an urban area for housebuilding.
I think this is comparing oranges with grapefruit in many respects, but there are some features of the farm loan board loan that are better than C.M.H.C. loans. For one thing, the rate of interest on urban housebuilding loans today is 6 per cent while the farm loan rate is 5 per cent. The maximum loan under the farm loan board is $15,000 and I am told that the limit under Central Mortgage and Housing Corporation practices in the case of a loan for a house for an urban dweller is $12,800. I think some of these factors are worth remembering.

Topic:   AMENDMENT TO INCREASE AUTHORIZED CAPITAL OF BOARD
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