NBC Evening News for Friday, Aug 03, 1973
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(Studio) Banks very competitive trying to attract deposits.
REPORTER: Garrick Utley
(DC) Price war exists among banks. Competition began when savings withdrawn from banks and put in other savings insts. to earn more interest. Savings and loan insts. caught in squeeze. [Press Savings and Loan League John STADTLER - states rates go up on home mortgage loans because savings insts. pay more on same amount of money put in savings and loan assns.] Hses. difficult to sell because high mortgage payments prevents buying homes. Builders predict construction will slow on new homes.
REPORTER: Irving R. Levine
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