Dana points to a piece by Anita Hill that highlights how much more likely it is that women homebuyers will get a bad deal on a mortgage. It's not just women; black and Latino homebuyers are also much more likely to get a subprime loan.
This piece on the racial disparities when it comes to subprime mortgages in New York City puts some shocking statistics behind a story like this one in Washington's City Paper a few weeks ago. One study the Times examined found that even in the same income groupings, black and Hispanic borrowers in New York were much more likely to get a bad deal: among those in the $125,000 to $150,000 annual income bracket, 24 percent of white borrowers took out a subprime mortgage, compared to 52 percent of Hispanics and 63 percent of African Americans in 2006. Another New York study found that blacks were five times as likely to pay higher interest rates as whites; Hispanics were nearly four times as likely. Across the boards, predatory lenders target historically disadvantaged groups. Just one more way the system works to keep women and minorities at a disadvantage.
--Kate Sheppard
