Do lending institutions in the US really give higher mortgage rates based on the race of the applicants?
I don’t doubt that more sub prime loans went to minority applicants, but isn’t it based on their credit and finances?
I’ve financed 2 homes over the last 5 years and I don’t recall being asked about my race or ethnicity. How would my lenders even know that I’m 1/2 Native American (both my loans are conventional by the way- no subprime or ARM junk)?
Both transactions were done through a broker (not the lender). Like I said, I sure don’t remember being asked about my race. I guess I could’ve been asked to check a box and just don’t recall.