Zillow research released this morning included some good news for minority applicants: Although Hispanic and black homeowners are still lagging behind white and Asian homeowners in the housing recovery, the denial rates for mortgages has decreased nationally.

  • The denial rate for 2014 conventional mortgage applications was 11.3 percent, down 1.3 percent from 12.6 percent in 2013.
  • For black applicants, the denial rate fell from 32.1 percent in 2013 to 26.9 percent in 2014 -- a 5.2-percent increase.
  • For white applicants, the denial rate fell from 10.1 percent in 2013 to 8.9 percent in 2014 -- a 1.2-percent drop.
  • For Hispanic applicants, the denial rate fell from 24.9 percent in 2013 to 20.0 percent in 2014 -- a 4.9-percent drop.
  • For Asian applicants, the denial rate fell from 13.1 percent in 2013 to 12.2 percent in 2014 -- a 0.9-percent drop.

Zillow research released this morning included some good news for minority applicants: Although Hispanic and black homeowners are still lagging behind white and Asian homeowners in the housing recovery, the denial rate for mortgages has decreased nationally.

Here’s how the Chicago market ranked:

  • The denial rate for 2014 conventional mortgage applications was 11.3 percent, down 1.3 percent from 12.6 percent in 2013.
  • For black applicants, the denial rate fell from 32.1 percent in 2013 to 26.9 percent in 2014 — a 5.2-percent drop.
  • For white applicants, the denial rate fell from 10.1 percent in 2013 to 8.9 percent in 2014 — a 1.2-percent drop.
  • For Hispanic applicants, the denial rate fell from 24.9 percent in 2013 to 20.0 percent in 2014 — a 4.9-percent drop.
  • For Asian applicants, the denial rate fell from 13.1 percent in 2013 to 12.2 percent in 2014 — a 0.9-percent drop.


 


Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×