My guess is that it is from China. The reverse probably has a cloth backing and that is likely to have some yellow "stains" showing thru.
That would make it hand hooked. Okay, could well be wool but overall, it has little or no value.
Hooked rugs such as these were Very common but the latex used (part of the manufacturing process) was, esepcially back then, poor quality - hence the yellowing (or even a fine powder coming thru the cloth backing).
And the worn/damaged area shown is pretty much not repairable.
Sorry for bad news.