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Minority Home Ownership Drops
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Minority Home Ownership Drops
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Minority Home Ownership Drops

November 4 2010 (Jeff Alan)
minority homeowner picture
According to the Census Bureau the overall rate of home ownership in the United States remained the same in the third quarter of this year compared to the previous quarter. Overall, home ownership dropped just 0.7 percent compared to the same period in 2009.

However, the Bureau is reporting that there was a pronounced slide in minority home ownership.

The overall home ownership rate came in at 66.9 percent for the third quarter; but, for African Americans, it dropped to 45 percent from 46.4 percent during the same period of 2009.

Among Hispanics, meanwhile, the rate fell to 47 percent from 48.7 percent a year earlier. By comparison, the share of white Americans who owned their homes slid just 0.3 percent to 74.7 percent.

Home ownership peaked in 2004 and 2005 with Hispanic ownership peaking at 55.2 percent and African-American ownership peaking at 49.4 percent. Home ownership among whites peaked at 76.1 percent during that same period.

A Pew Research Center study found during the boom time, roughly 1995 to 2005, minority groups latched onto the American dream at a much faster pace than whites did. Homeownership among whites increased 5.6 percentage points, while rate increases among minority groups ranged from 6.8 percentage points to 11.7 percentage points

The statistics showed that the gap in homeownership between whites and minorities had narrowed but still remained significant, according to the study’s authors, Rakesh Kochhar, Ana Gonzalez-Barrera and Daniel Dockterman.

They also found that blacks and Hispanics were more likely than whites to take out subprime loans, which are designed for borrowers with low credit scores. Just 10.5 percent of loans to whites in 2007 fit that category, compared with the 27.6 percent of loans taken out by Hispanics and the 33.5 percent for blacks.

All of which may explain why minority groups are experiencing a faster drop in home ownership now.

Tags: census bureau, minority home ownership, sub-prime loans, low credit scores, loans, minority groups

INSIDER CAR BUYING TIPS
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
BUYING VS LEASING
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
DEALER OR BANK FINANCING
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
BUYING ON THE INTERNET
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
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Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
HOME SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
SEARCH FOR A HOME
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

November 4 2010 (Jeff Alan)
minority homeowner picture
According to the Census Bureau the overall rate of home ownership in the United States remained the same in the third quarter of this year compared to the previous quarter. Overall, home ownership dropped just 0.7 percent compared to the same period in 2009.

However, the Bureau is reporting that there was a pronounced slide in minority home ownership.

The overall home ownership rate came in at 66.9 percent for the third quarter; but, for African Americans, it dropped to 45 percent from 46.4 percent during the same period of 2009.

Among Hispanics, meanwhile, the rate fell to 47 percent from 48.7 percent a year earlier. By comparison, the share of white Americans who owned their homes slid just 0.3 percent to 74.7 percent.

Home ownership peaked in 2004 and 2005 with Hispanic ownership peaking at 55.2 percent and African-American ownership peaking at 49.4 percent. Home ownership among whites peaked at 76.1 percent during that same period.

A Pew Research Center study found during the boom time, roughly 1995 to 2005, minority groups latched onto the American dream at a much faster pace than whites did. Homeownership among whites increased 5.6 percentage points, while rate increases among minority groups ranged from 6.8 percentage points to 11.7 percentage points

The statistics showed that the gap in homeownership between whites and minorities had narrowed but still remained significant, according to the study’s authors, Rakesh Kochhar, Ana Gonzalez-Barrera and Daniel Dockterman.

They also found that blacks and Hispanics were more likely than whites to take out subprime loans, which are designed for borrowers with low credit scores. Just 10.5 percent of loans to whites in 2007 fit that category, compared with the 27.6 percent of loans taken out by Hispanics and the 33.5 percent for blacks.

All of which may explain why minority groups are experiencing a faster drop in home ownership now.

Tags: census bureau, minority home ownership, sub-prime loans, low credit scores, loans, minority groups

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WE MAKE IT SIMPLE
WE'VE GOT ANSWERS
INSIDER CAR BUYING TIPS
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
BUYING VS LEASING
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
DEALER OR BANK FINANCING
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
BUYING ON THE INTERNET
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
HOME SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
SEARCH FOR A HOME
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

November 4 2010 (Jeff Alan)
minority homeowner picture
According to the Census Bureau the overall rate of home ownership in the United States remained the same in the third quarter of this year compared to the previous quarter. Overall, home ownership dropped just 0.7 percent compared to the same period in 2009.

However, the Bureau is reporting that there was a pronounced slide in minority home ownership.

The overall home ownership rate came in at 66.9 percent for the third quarter; but, for African Americans, it dropped to 45 percent from 46.4 percent during the same period of 2009.

Among Hispanics, meanwhile, the rate fell to 47 percent from 48.7 percent a year earlier. By comparison, the share of white Americans who owned their homes slid just 0.3 percent to 74.7 percent.

Home ownership peaked in 2004 and 2005 with Hispanic ownership peaking at 55.2 percent and African-American ownership peaking at 49.4 percent. Home ownership among whites peaked at 76.1 percent during that same period.

A Pew Research Center study found during the boom time, roughly 1995 to 2005, minority groups latched onto the American dream at a much faster pace than whites did. Homeownership among whites increased 5.6 percentage points, while rate increases among minority groups ranged from 6.8 percentage points to 11.7 percentage points

The statistics showed that the gap in homeownership between whites and minorities had narrowed but still remained significant, according to the study’s authors, Rakesh Kochhar, Ana Gonzalez-Barrera and Daniel Dockterman.

They also found that blacks and Hispanics were more likely than whites to take out subprime loans, which are designed for borrowers with low credit scores. Just 10.5 percent of loans to whites in 2007 fit that category, compared with the 27.6 percent of loans taken out by Hispanics and the 33.5 percent for blacks.

All of which may explain why minority groups are experiencing a faster drop in home ownership now.

Tags: census bureau, minority home ownership, sub-prime loans, low credit scores, loans, minority groups

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WHAT TYPE OF MORTGAGE LOANS ARE AVAILABLE?
DO I QUALIFY FOR A GOVERNMENT INSURED LOAN?
WHAT CAN I EXPECT FOR A MORTGAGE INTEREST RATE?
WE MAKE IT SIMPLE
WE'VE GOT ANSWERS
CALCULATE YOUR MORTGAGE PAYMENT
BENEFITS OF REFINANCING YOUR MORTGAGE
ADVANTAGES OF GETTING PRE-APPROVED FOR A LOAN
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
INSIDER CAR BUYING TIPS
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
BUYING VS LEASING
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
DEALER OR BANK FINANCING
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
BUYING ON THE INTERNET
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
SEARCH FOR A HOME
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

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