1. The broad mortgage market In 2013, Mr. and Mrs. Lane, both young professionals with graduate degrees, wished to buy a $350,000 house but could offer only $70,000 as a down payment. The Lanes approached West Bank to borrow the rest to purchase the home. West Bank was happy to help by However, West Bank required that the Lanes Would West Bank be as happy to help the Lanes if they asked for a loan in 1935? Yes, because the Lanes would make a 20% down payment. No, because the Lanes are too young. Yes, because the Lanes have a strong credit score. No, because the Lanes would be required to make at least a 50% down payment. Which of the following accurately characterizes the mortgage market in the first half of the 20th century? Check all that apply. High default rates Low interest rates Increasing home ownership rates Relatively low home ownership rates