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Reading: Freddie Mac Finds Home Appraisals in Black, Latino Areas More Likely to Fall Short
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The Wall Street Publication > Blog > Markets > Freddie Mac Finds Home Appraisals in Black, Latino Areas More Likely to Fall Short
Markets

Freddie Mac Finds Home Appraisals in Black, Latino Areas More Likely to Fall Short

Editorial Board Published September 21, 2021
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Freddie Mac Finds Home Appraisals in Black, Latino Areas More Likely to Fall Short
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Homes in Black and Latino neighborhoods appraise for less than their agreed-upon purchase price more often than in white areas, according to new research from government-backed mortgage giant Freddie Mac.

About 15.4% of single-family properties in majority-Latino census tracts and 12.5% of homes in majority-Black areas appraised lower than their contracted price between 2015 and 2020, Freddie Mac researchers found. The rate in white neighborhoods was 7.4%.

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