Tag Archives: Racial Disparities

The nation’s largest credit union—Navy Federal—has been found to have “the widest disparity in mortgage approval rates between White and Black borrowers of any major lender,” according to a CNN study of CFPB lending data.

A new Redfin survey revealed that nearly one-third of Black and Hispanic respondents faced some sort of discrimination while house hunting, while 22% of LGBTQ+ respondents also reported being discriminated against because of their sexual orientation.

Nearly one in six prospective homebuyers across different races and ethnicities reported facing some form of discrimination during the homebuying process, according to the National Association of Realtors. Others cited their primary reasons for stalling their home purchase as waiting for mortgage rates and home prices to decline, alongside a lack of available homes within their budget.

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

While racial disparities in homeownership are at their highest level in 50 years, closing the Black-white homeownership gap in the U.S. will take adding nearly five million African American homeowners, according to the U.S. Department of Housing and Urban Development.

In an effort to complement the initiatives outlined in the FHFA’s Strategic Plan: Fiscal Years 2022-2026, adjustments have been made based on initial research and findings to further promote equitable access to affordable and sustainable housing.

A new report from the National Association of Realtors revealed Black homeownership rates have not kept pace with increases of other racial groups, as Black homeowners and renters are more cost-burdened than any other racial group.

A new commentary and research piece by Jacob Channel, LendingTree’s Senior Economist, hits on the topic of racial inequities in homeownership—particularly the share of homes owned by Black identifying Americans compared to the share of Black people living in the same area.

The National Association of Real Estate Brokers has released its “State of Housing in Black America Report,” which aims to provide a comprehensive annual analysis of Black homeownership and the historic barriers they face when seeking to purchase a home.

According to the 2019 Survey of Consumer Finances conducted by the Federal Reserve, on average white families held just under a million dollars in accumulated wealth, while Black and Latino families had about $150,000 in wealth.