THE UKRAINIAN NATIONAL ASSOCIATION FORUM (08/10/97)

THE UKRAINIAN NATIONAL ASSOCIATION FORUM

The UNA and you
Interest rates still dropping

by Stephan Welhasch

Long-term interest rates could drop as low as 6.5 percent by the end of this year, believes James Johnson, chairman and chief executive officer of Fannie Mae, the nation's largest purchaser of residential mortgages.

"If the balanced budget agreement is passed [it was] and enforced, then I think interest rates of 6.5 percent are a reasonable expectation," said Mr. Johnson at the recent Fannie Mae Biennial Investor/Securities Analysts Conference.

Over the last six months, interest rates on mortgage loans have come down from 7.75 percent to an average of 7.25 percent. Last year's highest rate was around 8 percent, while in 1994 it was as high as 9.11 percent. The lowest that interest rates on a 15-year fixed-rate mortgage with 0 points have fallen to in recent years was 6.62 percent (and that was the lowest in 25 years).

According to information compiled by the Federal Reserve, the American economy is the envy of the industrial world: 4.1 percent economic growth over the past 12 months; 4.8 percent unemployment; a 2.8 percent rate of inflation that shows no signs of surging; and the Dow, which recently broke through a new level of 8,200, that has been booming for more than seven years. Some economists say we may be facing 25 years of prosperity - not bad, not bad at all.

"In fact, interest rates could go as low as 5.5 percent by the year 2002," opined Mr. Johnson. He feels the U.S. economy "is finally reaping the rewards of corporate re-organizations, as well as a tremendous boost in productivity due to the prevalent and efficient use of high technology."

Economists, who rarely agree on anything, now feel that the economy is running quite well and see little on the horizon that could conceivably steer the economy off track. How does that translate into good news for UNA members looking for a new home or perhaps to refinance their existing mortgage loan? If you are seriously looking for a bargain, speak with our UNA representative. You can find out how much more you will save with the UNA and have peace of mind in knowing that you've made the right choice by calling the UNA.

Being a member of the Ukrainian National Association entitles you to a special mortgage rate discount which also includes insurance coverage for you and your family. If you've been considering looking into a mortgage loan, now is a wonderful time to call the UNA and comparison shop.

The UNA offers its members financing for one-, two- and three-family homes throughout the United States and Canada. UNA's First Mortgage Loan Program is specially designed to meet the financial needs of its members and offers an interest rate that is highly competitive with the prevailing rates in your area. The UNA also continues to provide jumbo mortgage loans to Ukrainian Churches and organizations.

For more detailed information on mortgage loans, rates, refinancing your home, or becoming a member call 1 (800) 253-9862.

Young UNA'ers

Jonathan William Platosz, son of Roman and Patti Platosz, is a new member of UNA Branch 254 in New Britain, Conn. He was enrolled by his uncle Adam Platosz.

The new youngest member of UNA Branch 323 in Kansas City, Kansas, is Matthew Stephen Bilyk, son of Pattricia and Roy Bilyk, of Overland Park, Kansas. Matthew was enrolled by his grandfather Michael Bilyk, secretary of Branch 323.

Natalie Helen Schrantz, daughter of Anita Schrantz, is anew member of UNA Branch 147 in Allentown, Pa. She was enrolled by her aunt Anna Segan.

Artym Hayda, son of Roman and Katheryna Hayda, is a new member of UNA Branch 59 in Bridgeport, Conn. He was enrolled by his grandparents Ihor and Roma Hayda.

Zachariy and Julian Hayda (first and second from left), children of the Rev. Paul and Christina Hayda; Aleksander Hayda (third from left), son of Roksana and Marko Hayda; and Kristina Hayda (right), daughter of Halyna and Borys Hayda; are all new members of UNA Branch 59 in Bridgeport, Conn. All the children were enrolled by their grandparents Roma and Ihor Hayda.

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