Question

30-Year Standard Mortgage
Interest Rates (1978–1983)

A graph titled 30 year Standard Mortgage Interest rates from 1978 to 1938, year is on the x-axis and Interest rate is on the y-axis, from 5 to 20 in increments of 5. The interest rate was lowest from 1978 to 1980. In 1982, the interest rate was the highest at 18 percent.

Interest rates reached their peak in
at about
.
During the year
, buying a $100,000 house would result in the highest interest rate.

Answer 1

Interest rates reached their peak in 1982 at about 18%. During the year 1982, buying a $100,000 house would result in the highest interest cost — about $18,000 in interest over the first year (100,000 × 0.18).