Study: Hispanics, blacks get higher refinance rates

“Black and Hispanic homeowners were more likely to receive refinancing loans aimed at borrowers with low credit ratings than were whites, according to a nationwide study released Wednesday by the Consumer Federation of America.

In a survey of nearly 5 million refinanced mortgages made by 30 lenders nationwide, the consumer advocacy group found that about half of black mortgage seekers and one third of Hispanics got “subprime” loans with higher interest rates, compared with fewer than a quarter of white borrowers.”

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