§ Mr. Austin Mitchellasked the Minister of Agriculture, Fisheries and Food what is his estimate of the total value of agricultural land held under mortgage with the Agricultural Mortgage Corporation and with other institutions; and what in each case is the present estimated rate of interest payable on such mortgages.
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§ Mrs. FennerIt is not possible to make a reliable estimate of the total value of agricultural land held under mortgage with the Agricultural Mortgage Corporation and other institutions. The rate of interest payable on agricultural mortgages varies depending on their commencement date and the terms on which they were taken out. The Agricultural Mortgage Corporation is currently charging 16½ per cent. on new fixed rate loans and 151½ per cent. on new variable rate loans.