View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

FEDERAL HOUSING ADMINISTRATION
WASHINGTON
TEWART MCDONALD
ADMINISTRATOR

March 8, 1938

Honorable Marriner S. Eccles, Chairman
Federal Reserve System
vVashington, D* G.

Dear Marriner:

The attached figures are self-explanatory.
The program seems to be moving satisfactorily,
and the interest throughout the country is exceedingly
encouraging.
This report does not cover any figures under the
modernization and repair program, known as Title I.
This is on account of the fact that the banks are not
obliged to report except at the end of thirty days.
However, all informal checking convinces us that this
program, too, is doing very well.




Sincerely yours,

Stewart McDonald
Adminis trator

WEEKLY VOLUME OF FHA INSURING OPERATIONS

HOME MORTGAGES SELECTED FOR APPRAISAL

leek Ending

Jan. 8
t
t

15

n 22
t
!

29

Week Ending
1938
No.
Amount

Corresponding leek
1937
No.
Amount

1,256
1,504

1,967

# 5,483,184
6,531,200
7,299,975
8,150,840

1,711
1,888

2,286
2,167
2,272

$ 8,565,550
9,556,860
9,447,127
10,091,713

2,306
2,701
2,765
2,835

9,721,165
11,068,008
11,764,089
11,747,954

3,244

13,683,500

Feb. 5
1
1 12
n 19
i 26
t

1,982
1,988
2,219
2,775

8,571,895
8,787,105
10,025,800
13,100,250

*Mar . 5

3,864

17,529,602

-^Tentative figures
Note;

—

one office not reporting.

This is the largest week in mortgages selected
for appraisal since beginning of Title II
operations — largest prior i i e was v^eek
/ek
ending March 20, 1937, when mortgages selected
numbered 4,086 amounting to $16,879,710.

LARGE SCALE RENTAL HOUSING




From February 1 through March 5> 1938, applications on 35
projects were received for mortgages totalling 130,795>313•

WEEKLY VOLUME

OF HOME

AMOUNT REPORTED

MORTGAGES

SELECTED FOR

BY INSURING OFFICES

APPRAISAL

AT END OF EACH WEEK

MILLIONS OF DOLLARS
20

20
18
16
14

\ : \

V ,,

12
1/

u

»/

-V-

V\

10
8
6

MM
WEEK ENDING I

8 15 22 29 5 12 19 26 S 12 19 26 2
JAN
FEB
MAR

folio 1038




I I I I I II

9 16 23 30 7 14 21 28 4
APR
MAY

II 18 25 2
JUN

1 I 1 I I I I I Io

MUM
9

16 23 30 6
JUL

13 20 27 3 10 17 24 I
AUG
SEP

8 15 22 29 5
OCT

12 19 26 3
NOV

10 17 24 31
DEC

DIVISION OF ECONOMICS a STATISTICS
OPERATING STATISTICS SECTION