Mortgages to blacks and Hispanics fell in 2007

October 27, 2008 05:15PM

Mortgages to black borrowers in New York City decreased 44 percent and mortgages to Hispanic borrowers declined 34 percent in 2007, according to data released today by the Furman Center for Real Estate and Urban Policy at New York University. The number of new mortgages remained consistent for white borrowers and rose for Asian-Americans. Throughout the city, mortgages declined 14 percent between 2006 and 2007, due largely to the end of subprime mortgages, while they declined 25 percent nationwide.

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