REAL Trends Updates

One in three mortgage apps denied, higher for minorities

Nearly a third of all borrowers who applied for a home loan last year-including new homebuyers and existing homeowners looking to refinance-were turned down, according to the Federal Reserve's recently released annual report on home-lending activity. The U.S. central bank found that denials were even higher for minorities. The rejection rate for all home loans was about 32 percent last year,...  This content only available to REAL Trends Members. Please log in below.