Discrimination Seeps Into Every Aspect of Home Buying for Black Americans
“A Black loan applicant in the United States is more than twice as likely to be denied a home mortgage as a white applicant, aggravating the homeownership gap between Black and white Americans, according to a new report. Though loan denials for both Black and white applicants have slowed since the 2008 financial crisis, the gap in denial rates for Black and white people applying for home loans has widened significantly. Today, 15 percent of Black applicants are denied mortgages while 6 percent of white applicants are denied the home loans, according to a report by the National Association of Real Estate Brokers, an advocacy organization for Black real estate professionals.”