A Rare Occurrence: The Geography and Race of Mortgages Over $500,000

A Rare Occurrence: The Geography and Race of Mortgages Over $500,000

In A Rare Occurrence: The Geography and Race of Mortgages Over $500,000, the National Low Income Housing Coalition NLIHC (NLIHC) has analyzed the Home Mortgage Disclosure Act (HMDA) data for all government-insured and conventional mortgages originated from 2012, 2013, and 2014 for home purchase or refinancing. The study looks at the geography of mortgages over $500,000 and who receives them in terms of the race of the recipients of these mortgages. Given that mortgages over $500,000 are a rare occurrence in most of the United States, the report invalidates critics’ fears that lowering the Mortgage Interest Deduction (MID) cap to $500,000 will affect home prices nationwide. 

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