NBC Evening News for Wednesday, Jul 04, 1973
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(Studio) As dollar devalues, mortgage rates skyrocket for people buying and selling homes.
REPORTER: Garrick Utley
(Bethesda, Maryland) [Realtor Jack FOLEY - says can't give hses. away if sellers can't sell. Buyers and sellers in bind.] Potential customers can't get mortgage to buy home because high interest rates or too large down payment wanted by bank. [Prospective seller Richard BOYCE - states buyers come and go but can't get money.] [Prospective buyer John FOSTER - reports he and wife have tried time and again to get money but can't.] Purpose of high interest rates is to slow economy and reduce inflation, but average people suffering.
REPORTER: Irving R. Levine
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