Abstract
This note examines the effects of community socioeconomic status on mortgage lending patterns in Metropolitan Detroit. Data from 2000 HMDA reports and the 2000 U.S. Census are analyzed using multiple regression. The results from this analysis have two important implications for research on mortgage lending. First, they indicate that the effects of variables linked to a community's socioeconomic status on mortgage lending patterns are highly intercorrelated. As a result, variations in mortgage lending appear to be the result of the combined effects of a number of socioeconomic variables acting together. Second, the results from this analysis indicate that the socioeconomic status of a community is positively correlated with mortgage lending activity. In other words, a decline in neighborhood socioeconomic status is significantly correlated with a decline in mortgage lending.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
