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Distribution Analysis Of 2006 Subprime Rate Loans
despite the inverse relationship of census tract income and
spread frequency and magnitude, the volume of subprime
rate loans is skewed dramatically towards middle-income
census tracts. middle-income census tracts had 53.21% of
the higher cost loans, more than twice the volume of subprime
rate loans in all other census tract income categories
combined. moderate and upper census income tracts had
an almost even percentage of higher priced loans at 21.87%
and 21.40%, respectively. Low-income census tracts had the
smallest number and percent of 2006 subprime rate loans.
FIGURE 12: 2006 SUBPRIME RATE LOANS BY CENSUS TRACT INCOME
Page 23 of 27 The Demographic Impact of the
Subprime Mortgage Meltdown