South Florida mortgage market loosens for everyone but black borrowers

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As lenders loosen the purse strings, it’s easier to get a mortgage in South Florida for all racial groups except African-Americans. That’s according to research released Thursday by Zillow.

The breakdown for mortgage applications in Palm Beach, Broward and Miami-Dade counties:

  • For all mortgage applications, the denial rate was 21.2 percent in 2013 and 19.5 percent in 2014.
  • For black applicants, the denial rate rose from 29.2 percent in 2013 to 30.3 percent in 2014.
  • For white applicants, the denial rate fell from 17.9 percent in 2013 to 15.6 percent in 2014.
  • For Hispanic applicants, the denial rate fell from 23.6 percent in 2013 to 21.5 percent in 2014.
  • For Asian applicants, the denial rate fell from 21.9 percent in 2013 to 20.4 percent in 2014.

South Florida bucks the national trend, which saw black applicants denied less frequently in 2014 than in 2013.

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