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Farm Mortgage Characteristics: January-June 1971 and Historical Data, 1961-69

Author

Listed:
  • Warren, Forest G.
  • Mitchem, Nan P.

Abstract

Farm mortgage loans recorded in the first half of 1971 differed significantly from those recorded 10 years earlier. For example, interest rates on loans of $250,000 and under were 1.66 percentage points higher, the repayment term 0.2 year shorter, and the average size 144 percent larger. Figures for 1971 for loans of $250,000 and under were: (1) interest rate, 7.45 percent; (2) repayment term, 15.9 years; and (3) average size, $26,800. Large loans—over $250,000—represented less than 1 percent of total loans recorded but accounted for 14 percent of the total dollar volume. These loans averaged $520,710 and had an average interest rate of 7.71 percent and an average repayment term of 12.9 years. During the first half of 1971, loans varied considerably by lender and type of farming area.

Suggested Citation

  • Warren, Forest G. & Mitchem, Nan P., 1973. "Farm Mortgage Characteristics: January-June 1971 and Historical Data, 1961-69," Miscellaneous Publications 324755, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uersmp:324755
    DOI: 10.22004/ag.econ.324755
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