How homebuyers of color are disproportionately impacted by rising mortgage rates

Paul Solman:

Mortgage rates are crushing folks like Smith. The best offer we could find online for a $100,000 house, her 640 credit score, a 15-year mortgage with a 6.3 percent interest rate, $788 a month, on a salary of less than $40,000 a year, before taxes, union dues, et cetera.

But, of course, it’s not just for homeowners of color that mortgage rates are discouraging.

Samantha Moceri, for instance.

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