Is race a factor in mortgage lending?
Race shouldn’t be a factor in mortgage lending, but persistent high rates of loan denials and low rates of Black home ownership tell a different story. While an airtight mortgage application is not…
How many black and Hispanic households have mortgage rates below 5%?
In 2015, fewer than two-thirds of black and Hispanic householders had mortgage rates below 5%, compared with 73% of white householders and 83% of Asian householders.
Is system racism a factor in mortgage lending?
Race shouldn’t be a factor in mortgage lending, but persistent high rates of loan denials and low rates of Black home ownership tell a different story. While an airtight mortgage application is not going to end system racism, there are ways to improve your chances of getting approved for a mortgage at a fair interest rate.
What percentage of black applicants are denied a mortgage?
In 2015, 27.4% of black applicants and 19.2% of Hispanic applicants were denied mortgages, compared with about 11% of white and Asian applicants, according to our analysis of data gathered under the federal Home Mortgage Disclosure Act.