Day: July 7, 2020

Here Are the Places Where Black Homebuyers Are More Likely to Be Denied a Mortgage

Nationwide, 1 in 6 Black mortgage applicants is turned away when applying for a mortgage, compared with 1 in 14 white applicants. The gap is even wider in the most segregated parts of the country. Banks most frequently cite debt and credit history when denying Black applicants, but bias in lending also plays a role.

Nationwide, 15.9% of Black Americans who apply for mortgages are rejected, compared with just 7% of white Americans. The gap is widest in Milwaukee, San Francisco, Detroit, Chicago and St. Louis, where denial rates for Black homebuyers are more than 10

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Coronavirus: Melbourne public auction ban returns for six weeks

Auctions won’t return to Melbourne for at least six weeks. Picture: Andrew Henshaw

Face-to-face auctions and open for inspections have been banned once again across metropolitan Melbourne.

In a blow to the real estate industry, on-site sales will have to be scrapped across the city from midnight on Wednesday, July 8, as the state government attempts to bring rising coronavirus rates under control.

Remote auctions and inspections by appointment will be allowed to continue.

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