Findings indicate race is a factor in approval of mortgages and small commerce loans,with predominantly black neighborhoods lagging behind white onesBlack people in Baltimore received less than half as many mortgages as their white neighbors, according to a recent report – even though black people make up the majority of the city’s population.
White Baltimoreans looking to buy homes were approved for mortgages 75% of the time, and compared with 61% for black applicants. Despite the fact that just 28% of the city’s population is white,compared with 63% black, white residents applied for mortgages at twice the rate, and the report released by the National Community Reinvestment Coalition found. Related: In Freddie Gray's neighborhood,more than a third of households are in poverty Related: Baltimore is open for commerce: can the city convince customers it's safe? Continue reading...
Source: theguardian.com