Hispanic Homeownership Barriers Start To Fall

A new study released today by the Congressional Hispanic Caucus Institute’s (CHCI) HOGAR (Spanish word for home) Initiative suggests that a combination of factors that complement Hispanics strong desire for homeownership and strong work ethic, have helped increase the U.S. Hispanic homeownership rate; from 46.1% in September 2003 to 49.7% in March 2005.

The main recommendations of the study suggest that in order to nudge the Hispanic homeownership rate higher, mortgage loan interest rates must remain at historic low levels; Hispanics must continue to make substantial gains in population, education, and income; and the housing industry, in turn, must accurately measure the credit worthiness and capacity to save of Hispanics, while allowing for their pooling of incomes and resources.

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