The Heller School For Social Policty And Management The Heller School For Social Policy and Management Brandeis University
High Interest Rate Loans (pre-2010) as Share of Home Purchase Loans by Race/Ethnicity and Income
Year: 2009; Race/Ethnicity: Non-Hispanic White, Hispanic, Non-Hispanic Black and Non-Hispanic Asian/Pac. Islander; Income: Low-Income; Region: Largest 4 MSAs

Year


Race/Ethnicity




Income


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  • Non-Hispanic White
    Low-Income
  • Hispanic
    Low-Income
  • Non-Hispanic Black
    Low-Income
  • Non-Hispanic Asian/Pac. Islander
    Low-Income
           
 Scale Range: 0.0% - 12.2%           0.0%1.4%2.7%4.1%5.4%6.8%8.1%9.5%10.8%12.2%
                      
Chicago-Naperville-Joliet, IL-IN-WI Non-Hispanic White Low-Income 2009 4.8% Barchart image
Hispanic Low-Income 2009 9.6% Barchart image
Non-Hispanic Black Low-Income 2009 12.2% Barchart image
Non-Hispanic Asian/Pac. Islander Low-Income 2009 6.3% Barchart image
Los Angeles-Long Beach-Santa Ana, CA Non-Hispanic White Low-Income 2009 6.2% Barchart image
Hispanic Low-Income 2009 9.6% Barchart image
Non-Hispanic Black Low-Income 2009 9.7% Barchart image
Non-Hispanic Asian/Pac. Islander Low-Income 2009 1.9% Barchart image
New York-Newark-Edison, NY-NJ-PA Non-Hispanic White Low-Income 2009 2.9% Barchart image
Hispanic Low-Income 2009 5.7% Barchart image
Non-Hispanic Black Low-Income 2009 7.9% Barchart image
Non-Hispanic Asian/Pac. Islander Low-Income 2009 1.5% Barchart image
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD Non-Hispanic White Low-Income 2009 4.5% Barchart image
Hispanic Low-Income 2009 11.0% Barchart image
Non-Hispanic Black Low-Income 2009 11.7% Barchart image
Non-Hispanic Asian/Pac. Islander Low-Income 2009 6.5% Barchart image
                      
            0.0%1.4%2.7%4.1%5.4%6.8%8.1%9.5%10.8%12.2%

Definition: Share of home purchase loans that have an APR (annual percentage rate) at least 3 percentage points higher than the interest rate of U.S. Treasury securities of the same maturity.

Notes: Due to changes in the definition of high interest loans, this indicator only reflects loans with application dates before October 1, 2009.  Includes only originated, first-lien loans for owner-occupied, 1-4 family homes or manufactured homes.  Excludes data for metro areas with less than 50 loans for each race-income group. Low-income borrowers had incomes below 80% of area median income. Middle-income borrowers had incomes of between 80% and 120% of area median income. Upper-income borrowers had incomes above 120% of area median income.   Race/ethnicity refers to the primary borrower. Hispanics may be of any race. When borrower self identifies as more than one race, race category refers to first race specified. 

Source: Analysis of Home Mortgage Disclosure Act Data from the Federal Financial Institutions Examination Council.