Word: ende
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Dates: during 1970-1979
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...week's end Volcker had the measures that he wanted and called a mid-morning meeting of the board's governors in the Fed's second-floor boardroom. There, against a backdrop of silk wall coverings and an enormous blue-and-gold map of the U.S., the governors mulled over their chairman's proposals for one hour, then two, then through lunch and on into the afternoon...
MORTGAGE LOANS: Interest rates averaged 11.15% in early September, and are heading higher. Many bankers predict that they may reach 14% by year's end. But in 24 states, including Illinois, New York and Texas, usury laws hold rates to 12% or less. Lenders there are likely either to cut back on making home-buying loans or attach tighter conditions to them. A typical instance: First Federal Savings & Loan Association of Chicago has just shortened the repayment period on all mortgage loans to 25 years from 29 years, and now requires a minimum 25% down payment, vs. 20% formerly...
...construction loans, they generally pay 2 points above the prime interest rate that banks charge their top corporate customers. That means builders are paying 16½% interest, vs. 15½% only two weeks ago. Various charges may bring the effective interest rate to a towering 20% by the end of the year. Builders will start fewer houses and charge more for them. The National Association of Home Builders figures that the average price of a new house, now $64,000, will go up $1,000 by Dec. 31, and the combination of price increases and higher mortgage interest rates will...
...prize at the end of the obstacle course was a mere 879 delegates. These plus another 838 officials and appointees will vote in next month's straw poll. Since nearly all of these delegates are almost certain to be for Carter, the President is the odds-on favorite to wind up with votes to spare in November...
Carter and his supporters were more cautious, though they began to smell success toward the end. At his press conference, the President described the upcoming vote as "significant," and a Carter backer predicted that he would win 65% of the vote. But one staffer admitted: "We'll be happy with a victory...