Hispanic homeownership reaches record levels

Hispanic homeownership reaches record levels

Hispanic homeownership reaches record levels
The homeownership rate among Hispanics climbed to a record setting level in 2020, according to newly released data. While Hispanic households comprise about 18 percent of the U.S. population, they have accounted for more than half of the nation’s homeownership growth since 2011. This latest data is according to the Urban Institute.

More than 600,000 mortgages were taken out last year by Hispanic led households, a 13 percent increase from 2019, according to the U.S. Census Bureau figures analyzed by the National Association of Hispanic Real Estate Professionals.

House hunters looking to purchase a home will find conforming no-point 30-year fixed mortgage rates are averaging 3.0 percent and 15-year rates are near 2.375 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.