Paying More for the American Dream V: The Persistence and Evolution of the Dual Mortgage Market

Paying More for the American Dream V examines changes in conventional refinance lending between 2008 and 2009 in seven metropolitan areas: Boston, Charlotte, Chicago, Cleveland, Los Angeles, New York City, and Rochester, NY.

It also compares 2009 loan denial rates across neighborhoods. In all seven cities analyzed, lenders denied loan applications at significantly higher rates in communities of color than in predominantly white neighborhoods. The report concludes with policy recommendations to improve access to sustainable credit in communities of color.

press release | briefing (mp3)