Answer:
1978.
Step-by-step explanation:
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. (I had this question too and mine had a graph. This was my answer and I got an A)