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Highlights Of 2004-2006 Subprime Rate Lending By
Race And Ethnicity
FIGURE 2: 2004-2006 AVERAGE SPREAD ON SUBPRIME RATE LOANS BY RACE
The trend with Hispanics, Native Americans and Hawaiians,
while similar to Blacks, was not as high. Each of the above
groups however, had a higher frequency and higher average
spread on subprime rate loans than Whites or Asians. In
fact, Asians had the lowest frequency and magnitude of
loans with a HmdA reported spread. Thus, percentage-wise,
Hispanics, Native Americans and Hawaiians are also more
likely to experience a higher proportion of mortgage defaults
and foreclosures.
With respect to the number of subprime rate loans during
the three-year period, there is a large difference by race.
In each year, Whites had more subprime rate loans than
all minority groups combined. (Figure 3) Among minorities,
Hispanics had the largest volume of subprime rate loans,
followed by Blacks, with much smaller numbers for Asians,
Native Americans and Hawaiians.
Page 9 of 27 The Demographic Impact of the
Subprime Mortgage Meltdown