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Article: Minorities get higher home-loan rates: Subprime-lending study ranks Columbus 83rd of 172 cities.
- Article from:
- The Columbus Dispatch (Columbus, OH)
- Article date:
- September 7, 2007
CopyrightCOPYRIGHT 2007 The Columbus Dispatch. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Tracy Turner
Sep. 7--As the housing crisis deepens, blacks and Latinos remain more likely to feel its brunt, an advocacy group says.
More minority home buyers continue to receive higher interest rates for home loans than nonminorities. In Columbus last year, more than 57.8 percent of black home buyers and 33 percent of Latino home buyers received subprime loans, compared with 22.4 percent of white home buyers.
That's according to a study released this week by the Association of Community Organizations for Reform Now, known as ACORN. The study found that nationally, minorities continually receive more high-cost or subprime loans than ...