Thu 19 Jul 2007
Study: Racial discrimination persists in mortgage loans (AP)
Posted by Editor under Consumer , HousingWASHINGTON - Higher income does not protect blacks and Hispanics from receiving mortgage loans with above-market rates, a new study by a group pushing for reforms to lending laws says.
The report, released Tuesday by the Washington-based National Community Reinvestment Coalition concludes that in 2005 blacks in 171 metropolitan areas were at least twice as likely as whites to receive expensive loans.