New Report Finds Mortgage Lending Disparities Across Greater Philadelphia
Barriers to Building Generational Wealth: Mortgage Lending Disparities Across Greater Philadelphia, provides an analysis of mortgage lending trends throughout Greater Philadelphia from 2004 to 2019, and presents findings of racial, ethnic, and geographic mortgage lending disparities that exist within the region. The findings are critical because although the official practice of redlining is no longer legally permissible, data in the report outline the significant disparities in mortgage lending that still persist throughout the region.
In Greater Philadelphia, Black and Hispanic applicants are denied at significantly higher rates than their Asian and white counterparts. Due to these disparities, the region’s generational and racial wealth gaps continue to grow and further undermine the economic vitality and resiliency of Greater Philadelphia.
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