Time Clock, Jun. 10, 1957

U.S. LOAN-RATE BOOST is being urged by President Eisenhower so that federal agencies will charge as much to lend money to public as Treasury pays to borrow it. But Administration's plan will run into congressional trouble because many beneficiaries of low rates are lobbying hard against it, e.g., National Rural Electric Cooperative Association, which fears plan would raise REA loan interest from 2% to going Treasury long-term loan rate of 3½%.

NEW HOUSING BILL will be more generous than Administration expected. Administration wanted to pare minimum down payments on FHA-backed mortgages from current 5%...

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