TWENTIETH ANNUAL YEAR BOOK— PART VII . 579 



Table IV gives the number of years to run of 701 first mortgages: 



No. of Years. No. of Cases. 



Less than 5 81 



5 246 



6-9 80 



10 241 



More than 10 53 



There is a strong tendency to make mortgages either for five or for 

 ten years. Nearly 70 per cent of the first mortgages are about equally 

 divided between these two periods. 



Table V gives the rates of interest on 780 first mortgages: 



No. Rate of Interest. 



1 4% 



307 5 



4 5% 



391 51/^ 



1 5% 



76 6 



Practically all mortgages are either for 5, 51/^ or 6 per cent, with a 

 predominance at ^Vz per cent, closely followed by 5 per cent. 



Table VI gives the number of years to run of ninety-seven second 

 mortgages: 



No. of Years. No. of Cases. 



Less than 5 26 



5 17 



6-9 15 



10 28 



More than 10 11 * 



As in the case of first mortgages, five and ten years are the outstand- 

 ing periods. The average duration for second mortgages is six and six- 

 tenths years, as compared with seven and seven-tenths years for first 

 mortgages. 



Table VII gives the rates of interest on 173 second mortgages: 



No. of Cases. Rate of Interest. 



31 5 



56 51/2 



79 6 



4 7 



3 8 



There seems to be a stronger tendency toward a 6 per cent rate than 

 in the case of first mortgages. On the whole the rate of interest for sec- 

 ond mortgages is not to a marked extent greater than for first mortgages. 



There was a total of only eleven third mortgages and they do not 

 differ materially from first and second mortgages in the number of years 

 to run or the rate of interest. 



