IMPORTANT NOTICE: The date, time, and room assignment of YOUR presentation is SUBJECT TO CHANGE.
Proposal authors can use this tool to see where they have been placed in the program agenda for an Oral or Poster Session.
Scroll down to search by the Submitter or Author Name, by Date/Time, or by Keywords.
Confirm your place in the schedule by following the instructionss that were emailed to you. Each presentation must have a separate paid registration. Contact the ACCI office immedicately by email at admin@consumerinterests.org to report any conflict, all corrections to the details of the presentation (including author names and the order they are listed as this is how it will be in the final program), or if you have any questions. Please be sure to reference the session title(s), date(s), and time(s) when you contact us.
D3a Do Americans With Disabilities Pay Higher Mortgage Rates?
Short Description
<The purpose of this study is to identify whether price disparities in mortgage interest rates exist between disabled and non-disabled borrowers using pooled data from the 2014 to 2022 Survey of Income and Program Participation (SIPP). We estimate that after controlling for mortgage features, types of lenders, duration, other lender metrics, and borrower demographics including household income, disabled borrowers pay roughly 7 basis points more than non-disabled borrowers on their mortgage interest rates. Further, borrowers with two or more disabilities pay 11 basis points more than non-disabled borrowers. By controlling for household income, we are identifying the indirect effect of disabilities on financial health. The disparities are also economically significant. Over the life of a 30-year loan, the present value of an extra 7-basis (11-basis) points in interest expense paid by disabled borrowers (those with two or more disabilities) is $1,635 ($2,573) for an average remaining principal balance of $116,634. These estimates are understated as the original principal balance is not reported. Whether intentional or not, potential extra interest expense borne by disabled borrowers is unlawful according to the Fair Housing Act of 1968 and is yet another factor contributing to their long-run financial vulnerability.
Type of presentation
Accepted Oral Presentation