Zillow research released this morning included some good news for minority applicants: Although Hispanic and black homeowners are still lagging behind white and Asian homeowners in the housing recovery, the denial rate for mortgages has decreased nationally.
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Here’s how the Los Angeles market ranked:
- The denial rate for 2014 conventional mortgage applications was 13.4 percent, down 1.1 percent from 12.3 percent in 2013.
- For black applicants, the denial rate fell from 21.6 percent in 2013 to 21.0 percent in 2014 — a 0.6-percent drop.
- For white applicants, the denial rate fell from 11.5 percent in 2013 to 11.2 percent in 2014 — a 0.3-percent drop.
- For Hispanic applicants, the denial rate fell from 17.5 percent in 2013 to 14.2 percent in 2014 — a 3.3-percent drop.
- For Asian applicants, the denial rate fell from 14.1 percent in 2013 to 12.1 percent in 2014 — a 2.3-percent drop.
