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 Refinance Loans by Race/Ethnicity
Year: 2009; Race/Ethnicity: Non-Hispanic White, Hispanic, Non-Hispanic Black and Non-Hispanic Asian/Pac. Islander; Region: Largest 4 MSAs

Year


Race/Ethnicity




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  • Non-Hispanic White
  • Hispanic
  • Non-Hispanic Black
  • Non-Hispanic Asian/Pac. Islander
         
 Scale Range: 0.0% - 9.5%         0.0%1.1%2.1%3.2%4.2%5.3%6.4%7.4%8.5%9.5%
                    
Chicago-Naperville-Joliet, IL-IN-WI Non-Hispanic White 2009 2.4% Barchart image
Hispanic 2009 6.1% Barchart image
Non-Hispanic Black 2009 9.5% Barchart image
Non-Hispanic Asian/Pac. Islander 2009 1.1% Barchart image
Los Angeles-Long Beach-Santa Ana, CA Non-Hispanic White 2009 0.8% Barchart image
Hispanic 2009 2.2% Barchart image
Non-Hispanic Black 2009 3.4% Barchart image
Non-Hispanic Asian/Pac. Islander 2009 0.6% Barchart image
New York-Newark-Edison, NY-NJ-PA Non-Hispanic White 2009 1.8% Barchart image
Hispanic 2009 3.5% Barchart image
Non-Hispanic Black 2009 6.0% Barchart image
Non-Hispanic Asian/Pac. Islander 2009 1.0% Barchart image
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD Non-Hispanic White 2009 2.7% Barchart image
Hispanic 2009 5.6% Barchart image
Non-Hispanic Black 2009 9.2% Barchart image
Non-Hispanic Asian/Pac. Islander 2009 1.4% Barchart image
                    
          0.0%1.1%2.1%3.2%4.2%5.3%6.4%7.4%8.5%9.5%

Definition: Share of refinance 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. Race/ethnicity refers to the primary borrower.  Excludes data for metro areas with less than 50 loans for each race/ethnic group. 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.