Read the graph that displays mortgage interest rates between 1978 and 1983. in what year did consumers get the best deal on a mortgage? a. 1978 b. 1980 c. 1982 d. 1983

Based on the graph the best year in which consumer were able to get the best deal on a mortgage was: A. 1978

In the graph the year 1978 is when the interest rate takes an absolute minimum. The interest rate is the price one pays for the money lend (mortgage: housing debt). Therefore, consumers will always want to pay less, in oder words, have low interest rates. From 1978 onwards the interest rates tend to increase despite decreasing between 1980 and 1981. However, it was still higher than in 1978 when the interest rate was 9.0.

d is the correct answer

~courtney