A NOTE ON THE SMALL MORTGAGE MARKET.

The article refers to "The Impact of Federal Mortgage Insurance Programs on Ann Arbor's Home Mortgage Market, 1956," a survey by James C. T. Mao, and provides information about small-city mortgage markets. Statistics are given for the lending volume in Middletown, Connecticut and Hagerstown, Maryland--two cities where institutional lenders participate in the Federal Housing Administration and Veterans Administration loan programs which insure or guarantee mortgage loans. The relationship between the size of financial institutions and proportion of their mortgage portfolios is mentioned, as well as research by J. E. Morton, "Urban Mortgage Lending: Comparative Markets and Experience."