Black homebuyers have been 3 1/2 times more likely to receive a subprime loan than white borrowers, and six times more likely to get a subprime rate when refinancing, Tighe said.
Blacks still were disproportionately steered into subprime loans when their credit scores, income and down payment were equal to those of white homebuyers, he said. . .
The NAACP is going to sue the banks because whites paid higher interest rates?
Yep, sounds like DESCRIMINATION to me!
Oh wait, this is an AP story. Accuracy rating 30% or less.
A sub-prime mortgage carries a higher interest rate than a prime mortgage.