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

Homes in Black and Latino neighborhoods appraise for decrease than their agreed-upon purchase price additional sometimes than in white areas, in accordance with new evaluation 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 pace in white neighborhoods was 7.4%. | Freddie Mac Finds Home Worth determinations in Black, Latino Areas Additional Liable to Fall Fast

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