The Share of New Loans with a Down Payment of 5

Multiple Choice

The share of new loans with a down payment of 5 percent or less extended by Freddie Mac and Fannie Mae

A) declined substantially after 1999.
B) rose from 4 percent in 1998 to 12 percent in 2003 and 23 percent in 2007.
C) rose from 4 percent in 1998 to 23 percent in 2002, but declined to less than 10 percent in 2007.
D) never exceeded 10 percent of the new loans financed.