In this report:The private mortgage lending market continued to inadequately serve most households of color.The gap in homeownership rates between Black and White families remained near a 120-year high point.Refinance lending exploded during the pandemic and disproportionately flowed to non-Hispanic White, Asian Indian and Chinese borrowers.Over decades, the private mortgage market and laws intended to expand access to credit have failed to achieve equitable home ownership rates or increase family wealth in communities of color.Policy makers, community leaders and lenders themselves should rally around bold new approaches, race-specific goals and performance requirements
