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 10.0 percent, down 0.2 percent from 10.2 percent in 2013.
- For black applicants, the denial rate fell from 19.6 percent in 2013 to 17.3 percent in 2014 -- a 2.3-percent drop.
- For white applicants, the denial rate fell from 7.6 percent in 2013 to 7.2 percent in 2014 -- a 9.4-percent drop.
- For Hispanic applicants, the denial rate fell from 16.6 percent in 2013 to 14.4 percent in 2014 -- a 2.2-percent drop.
- For Asian applicants, the denial rate fell from 12.5 percent in 2013 to 12.2 percent in 2014 -- a 0.3-percent drop.
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Give yourself the tools to own the new year at Connect SF, July 17-20, 2018