Analysis of home loan rejection rates may reveal discrepancies in lending in the Fayetteville metropolitan area, particularly for applications made by citizens identified racially as American Indians or Pacific Islanders. These demographics are rejected at at least twice the rate of both black and white applicants.
Data reported under the Home Mortgage Disclosure Act show rejection rates approaching 30% for American Indian and Pacific Islanders. These are the two smallest racial groups in the area, making up only 1.3 and 1.4% of the population in the 2014 census.
79% of Fayetteville citizens to apply for home loans are white, lining up with their 85% share of the area’s population. However, only 13% of these applications were rejected by lending institutions in 2014. This rejection rate is second lowest only to that of applications reported to be made by Asian citizens, of which only 8% were rejected.
- Is there a way we can get data on people who rent their homes in the area?
- Are these two very small racial demographics grouped in one place in the metropolitan area? Would knowing about the lending rates of that specific area bring anything more to light?
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