High Interest Rate Loans (2010) as Share of Refinance Loans by Race/Ethnicity and Income
Year: 2010; Race/Ethnicity: Non-Hispanic White; Income: Low-Income; Region: 50 Largest MSAs

Year
Race/Ethnicity




Income


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  1.1% 3.2% 5.3% 7.5% 9.6% 11.8% 13.9% 16.0% 18.2%
  0.0% 2.1% 4.3% 6.4% 8.5% 10.7% 12.8% 15.0% 17.1% 19.2%
 

# of MSAs

Riv...                                    
15 Los... Jac...                                  
Chi... Cle...                                  
New... Atl...                                  
Bal... Ind...                                  
Har... San...                                  
10 Mia... Roc...                                  
Mil... Orl...                                  
Por... Aus...                                  
Bos... Phi... Dal...                                
Sea... Ric... Cin...                                
5 Was... Vir... Cha...                                
Sac... Min... Buf...                                
San... Det... New...                                
Den... Pho... St.... Pit...                              
Las... Pro... Col... Lou...   Nas... San...                        
0 San... Sal... Tam... Kan... Mem... Hou... Bir...   Okl...                    
  0.0% 2.1% 4.3% 6.4% 8.5% 10.7% 12.8% 15.0% 17.1% 19.2%
  1.1% 3.2% 5.3% 7.5% 9.6% 11.8% 13.9% 16.0% 18.2%
 

Non-Hispanic White Low-Income

Definition: Share of refinance loans that have an APR (annual percentage rate) at least 1.5 percentage points higher than the estimated Average Prime Offer Rate for loans extended to  prime borrowers based on the rates reported by Freddie Mac in its Primary Mortgage Market Survey®.  This definition of high interest loans differs from that used prior to 2010.

Notes: Includes only originated, first-lien loans for owner-occupied, 1-4 family homes or manufactured homes.  Excludes data for metro areas with less than 20 loans for each race-income group. Low-income borrowers had incomes below 80% of area median income. Middle-income borrowers had incomes of between 80% and 120% of area median income. Upper-income borrowers had incomes above 120% of area median income.   Race/ethnicity refers to the primary borrower. Hispanics may be of any race. When borrower self identifies as more than one race, race category refers to first race specified.

Source: Analysis of Home Mortgage Disclosure Act Data from the Federal Financial Institutions Examination Council.