The Heller School For Social Policty And Management The Heller School For Social Policy and Management Brandeis University

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Definition: Share of refinance loans that have an APR (annual percentage rate) at least 3 percentage points higher than the interest rate of U.S. Treasury securities of the same maturity.

Notes: Due to changes in the definition of high interest loans, this indicator only reflects loans with application dates before October 1, 2009.  Includes only originated, first-lien loans for owner-occupied, 1-4 family homes or manufactured homes.  Excludes data for metro areas with less than 50 loans for each race-income group. Low-income borrowers had incomes below 80% of area median income. Middle-income borrowers had incomes of between 80% and 120% of area median income. Upper-income borrowers had incomes above 120% of area median income.   Race/ethnicity refers to the primary borrower. Hispanics may be of any race. When borrower self identifies as more than one race, race category refers to first race specified. 

Source: Analysis of Home Mortgage Disclosure Act Data from the Federal Financial Institutions Examination Council.