Mortgage%20rate%20race%20disparity

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This article is print ready and will remain available for 24 hours | Instructions for saving » Search for another transcript » NPR home page Marketplace Report: Mortgage Rate Disparity September 8, 2006 from Day To Day ALEX CHADWICK, host: Back now with DAY TO DAY. New numbers from the Federal Reserve show a big jump in the numbers of blacks and Hispanics who have to pay more than whites for mortgages. A separate report from a consumer advocacy group has found similar disparities in home refinancing. Joining us is MARKETPLACE senior business correspondent Bob Moon. Bob, how big are these racial disparities in the cost of home loans across the country? BOB MOON: Well, the gaps are stunning, actually, Alex. This report out today from the Federal Reserve took a look at home-lending data from last year, and it found almost 55 percent of black borrowers paid a higher interest rate on home mortgages than whites, something the industry calls sub-prime lending here. That 55 percent segment of African-Americans was
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Mortgage%20rate%20race%20disparity - This article is print...

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