Homeowners in predominantly black and Hispanic neighborhoods are more likely than their counterparts in predominantly white neighborhoods to be underwater on their mortgages, according to a report from Zillow.

Zillow found that the negative equity rate in census tracts where the majority of residents are black was 20% during the third quarter, versus 9.9% for majority white census tracts and the national rate of 10.9%. Similarly, the negative equity rate was also elevated in census tracts that are predominantly Hispanic at 12%.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry