Tag Archives: Racial Disparities

A CNN analysis of CFPB lending data reveals that Navy Federal Credit Union has been denying people of color home mortgages at rates much higher than seen elsewhere.

According to a new Redfin survey, discrimination drove roughly 1 in 10 Black, Hispanic, and LGBTQ+ respondents away from their previous residences. In addition, some 32% of Black and Hispanic respondents reported facing discrimination during their recent home search, while 22% of LGBTQ+ respondents reported feeling the same.

The National Consumer Law Center has issued a report on how errors and bias in the screening process disproportionately harms Black and Latino/Hispanic renters.

Two new studies from the National Association of Realtors show that elevated home prices and limited housing supply are continuous homebuying barriers cited across different races and ethnicities, hampering home sales and affecting prospective buyers nationwide.

New research from FHLBank San Francisco and the Urban Institute investigates ways to reduce mortgage default risk by utilizing mortgage reserve accounts that could help homeowners overcome temporary hardships, which would mainly benefit Black families, who are more than twice as likely as white families to lose their home to foreclosure.

Latino homeownership lagged 22 percentage points behind white homeownership in 2021 and experienced significantly higher mortgage denial rates than their white counterparts, according to Fannie Mae’s new Latino Housing Journey. Click through for more on the disparities Latino households face and policy solutions that could increase homeownership opportunities.

The Housing Choice Voucher homeownership program could help reduce the racial homeownership gap in the U.S., allowing households with a voucher to use it for mortgage payments rather than rent, advancing homeownership opportunities for Black non-Hispanic households.

According to a new report from the National Association of Realtors, people of color nationwide are facing homebuying challenges, while the Asian American rate of homebuying difficulty reaches all-time high.

“That said, it’s important to note that while these examples can shed some light on why homeownership rates are relatively low for Black people, they’re not all the reasons why a person who identifies as Black may struggle to become a homeowner,” said Jacob Channel, LendingTree’s Senior Economist.

“It is the sacred duty of community leaders, policy makers, and financial industry specialists to lift communities so that all children can thrive and grow up with opportunities for good health, wealth, and happiness in their lives,” said NAREB President Lydia Pope.