Black applicants face US mortgage discrimination – Philadelphia Fed paper


US mortgage lenders are 3.5% to 5% less likely to give credit to Black applicants than they are to customers of other ethnicities due to bias, research from the Federal Reserve of Philadelphia finds.

The researchers estimate that this disparity cost applicants $213 billion in credit at 2018 values.

Their paper, Using high-frequency evaluations to estimate discrimination: evidence from mortgage loan officers, looks at the total stock of mortgages issued between 1994 and 2018.

Marco Giacoletti

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