Millions of Americans Refinanced Last Year—but Fewer Black and Latino Homeowners Did

Wall Street Journal, June 23, 2021–J.J. McCorvey and Julia Carpenter (subscription)
Refinancings were popular in 2020, but not every household caught the wave. From January to October of last year, only 6% of Black borrowers refinanced their mortgages, versus 12% of white borrowers. The findings appear in a new report by economists at the Federal Reserve Banks of Atlanta, Philadelphia and Boston.