30 - year standard mortgage interest rates (1978 - 1983)\ninterest rate\n19.0\n17.0\n15.0\n13.0\n11.0\n9.0\n7…

30 - year standard mortgage interest rates (1978 - 1983)\ninterest rate\n19.0\n17.0\n15.0\n13.0\n11.0\n9.0\n7.0\n5.0\n1978 1979 1980 1981 1982 1983\nyear\nin what year did consumers get the best deal on a mortgage?\n1978\n1980\n1982\n1983

30 - year standard mortgage interest rates (1978 - 1983)\ninterest rate\n19.0\n17.0\n15.0\n13.0\n11.0\n9.0\n7.0\n5.0\n1978 1979 1980 1981 1982 1983\nyear\nin what year did consumers get the best deal on a mortgage?\n1978\n1980\n1982\n1983

Answer

Explanation:

Step1: Understand best - deal concept

A lower interest rate means a better deal for mortgage consumers.

Step2: Analyze the graph

We observe the interest - rate values for each year on the graph. In 1978, the interest rate is the lowest among 1978, 1980, 1982 and 1983.

Answer:

1978