Tighter credit restrictions are making mortgages harder to come by for minority borrowers, according to NAREB.

According to an analysis of the most recent Home Mortgage Disclosure Act data by the National Association of Real Estate Brokers, an African-American real-estate trade group, black borrowers accounted for only 5% of mortgages originated in 2014, down from 7% ten years ago. Meanwhile, white borrowers accounted for 69% of mortgages in 2014, up from 58% in 2004.

The Wall Street Journal attributes minority borrowers’ smaller share of mortgage loans to the rise of jumbo mortgages, which favor affluent borrowers and have lower default rates. The NAREB report focuses on the declining rate of black borrowers receiving Fannie and Freddie-eligible mortgages, which has fallen to 3% of all borrowers, due to higher post-recession credit requirements.

Overall, applications for Fannie- and Freddie- eligible mortgages from black borrowers fell by 82% between 2004 and 2014, while applications for FHA mortgages from the same group jumped by 60%.

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