Blacks and Hispanics, however, are denied loans at more than double the rates of whites and Asians.
Builder
Mortgage denials, which peaked at the onset of the housing crash, have fallen back to a 20-year low, Zillow reported Thursday.
Nationally, the share of applicants who are denied for conventional mortgages has fallen to 9.8%, according to data from the Home Mortgage Disclosure Act (HMDA), down from 18.1% in 2007.
Zillow noted that even though a smaller share of loan applicants overall are denied, white or Asian borrowers are more likely to be approved for a mortgage than black or Hispanic borrowers. In 2016, 8.1% of white applicants were denied for a conventional loan, as were 10.4% of Asian applicants. By comparison, 20.9% of black borrowers and 15.5% of Hispanic borrowers were turned down for a loan.
