*22—Lancaster Farming, Saturday, January 3,1981 FmHA raises interest rates WASHINGTON, DC. - The U.S. Department of Agriculture’s Farmers Home Administration raised its basic interest rates to 13 percent on December 20, FmHA Administrator Gordon Cavanaugh said last Monday Because of the higher costs in borrowing from the U S Treasury, FmHA raised interest rates to 13 percent on -low to moderate income rural housing loans, -farm operating loans (including economic emergency loans for operating purposes) and -disaster emergency loans for annual production or operating purposes above actual losses Cavanaugh said the in crease in housing interest rates applies only to non subsidized FmHA housing loans. “Home loans will still be available at rates as low as one percent for low-income families under the ‘interest credit’ provision of the national housing act,’ he said. According to Cavanaugh the agency’s interest rates are now set at 12 25 percent for most long term farm loans, including farm ownership, soil and water, recreation, grazing association, irrigation and drainage, economic emergency loans for real estate and disaster emergency loans for major adjustments above actual losses. “Indian land acquisition Uli’ill j ratin' pMEpicArioN ,, pROPORTIONER << [ MEDICATE YOUR FARM ANIMALS ACCURATELY No Corrosive Parts - No Poppets or Pumps - No Moving Parts to Maintain. Give U$ A Tty Before You Buy" DANIEL’S FARM STORE Animal Health Supplies & Livestock Equipment. Located between Leola & Talmage along Rt. 772 RDI, Leola, Pa. 17540 717-656-6982 loans and biomass fuel facilities loans will also be made at 12.25 percent,” he said. “For disasters occurring between July 3 and December 19, 1980, emergency loans will be made at 11.75 percent to applicants who can get credit from other sources,” Cavanaugh said. Rural renting housing and rural housing site loans will be made at 11.5 percent. Cavanaugh also said that interest rates on -loans to limited resource farm applicants will be made at seven pecent for operating purposes and five percent for real estate purposes; -loans to cover actual losses from disasters oc curring after Oct. 1, 1978, will remain at five percent; -loans on water, waste disposal and community facilities will remain un changed at five percent. •‘FmHA interest rates had not changed since Sep tember 26, but mcreases were forced up because of recent rises in the prime interest rate,” Cavanaugh said “Interest rates will continue to be negotiated between borrower and lender for the agency’s guaranteed loan programs ” The formulas used in setting FmHA’s interest rates and other government lenders are prescribed by law and closely tied to the cost of federal borrowing and prevailing private market interest rates for similar maturities NEW MILK TESTS FOR PREGNANCY IN COW HERDS Available Now One Kit Tests 10 Cows TINGLEY BOOTS FOR SALE With the approaching energy crisis, the best oil or gas burner you can install, is also the best wood or coal burner you can Introducing the HS Tarm Multi-Fuel central heating system It heats your home and hot water with any combination of available fuel Including wood, coal, oil, gas, and electricity So when oil and gas run short and burn v,p your budget, you can supplement or totally replace them with wood or coal Automatic controls will safely and instantly switch to the fuel of your choice You can heat with wood or coal as the primary fuel or use them only as emergency back-up fuels All in all, there is no better or less expensive way to keep your family warm Write today for information about HS Tarm heating and hot water insurance for your home STOP & SEE Double firebox model for replacement or new installation Please send me complete information on the HS Tarm Type OT Multi Fuel Boiler ■ Name. I Address. I Telephone I City. .State New Holland, PA ; 17557 j City. ! 717-354-0412 | install. igle firebox model for itallation alongside your ssent boiler or furnace Please send me complete information on the HS Tarm Type MB-Solo Wood/Coal Boiler •Stale.
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