Mortgage Interest Rate Spreads in New Jersey

Using rate spread, this chart compares mortgage interest rates between white and Latino borrowers. The term indicates how much higher or lower a borrower’s interest rate is than the average low-risk borrower for a comparable loan. For Latino borrowers, the median rate spread on a mortgage from 2018-2022 was 0.35—roughly double that of white borrowers.

Source: Home Mortgage Disclosure Act data analysis by Futuro Investigates.