General World News

Black mortgage applicants far more likely to be rejected

Black homebuyers’ mortgage applications are 2.5 times as likely to be rejected as the submissions of white home shoppers.

That’s one finding from a National Association of Realtor’s report released Wednesday that reveals glaring racial disparities in an otherwise rosy home market.

The report – which culled data from the U.S. Census Bureau’s American Community Survey plus an NAR-conducted survey that 8,000 homebuyers took in 2019 and 2020 – shows that 10% of Black mortgage applicants were rejected. That compares to 6% Hispanic applicants, 4 % white and 4% Asian applicants.

Of the Black applicants rejected, the vast majority cited a details ⇒

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