During 1979-2005, the mortgage default rate
A) was less than the foreclosure rate.
B) soared to more than 5 percent during recessions but declined sharply during economic expansions.
C) soared to more than 5 percent during expansions but declined sharply during economic recessions.
D) was generally between 1 and 2 percent.

Question

Quizplus · Accepted Answer

The mortgage default rate during 1979-2005 was generally between 1 and 2 percent, reflecting relatively stable economic conditions and lending practices during that period.

During 1979-2005, the Mortgage Default Rate