Skip to main content

Mortgage Prepayment, Race, and Monetary Policy

Authors explore refinancing rates by race and find that Black and Hispanic borrowers are much less likely to refinance their mortgages when rates go down, leaving significant monthly savings on the table. This has long-term implications for the ability of these families to keep their homes when markets turn and to maximize their wealth accumulation during good times.

Related Posts

  • Leveraging Mobility in Boston

    April 16, 2026

    Drawing on a rare qualitative longitudinal study from the late 1990s to 2025, this report traces how wealth, opportunity, and financial security evolve within families and across the generations. Leveraging…

  • The Dignity Dividend: Lessons Learned from Guaranteed Income Pilots in Massachusetts

    July 15, 2025

    The past few years have seen a surge of local experimentation with guaranteed income, much of it made possible by federal pandemic relief funding.

    Guaranteed Income Cover

  • Deed-Restricted Homeownership 101

    May 21, 2025

    Affordability deed restrictions are legal stipulations placed on below-market-rate, owner-occupied homes that limit the future resale price and cap how much equity a homeowner can accumulate over time.