{
  "alt": "Table of three loan purposes with the number of tracts, decided applications, denial rate with its interval, and the number of tracts with a published rate for Black applicants. Home purchase has the lowest denial rate and the most tracts with a rate for Black applicants.",
  "caption": "The home-purchase file has the lowest denial rate and by far the most tracts with a published rate for Black applicants, {fact:tracts_black_purchase} against {fact:tracts_black_refi} for refinance and {fact:tracts_black_cashout} for cash-out loans. The chapter uses home-purchase applications from here on. The rate is denied applications divided by applications originated or denied, pooled over tracts, with a 95% interval from a bootstrap over counties.",
  "data": [
    {
      "conf_high": 9.3,
      "conf_low": 8.7,
      "decided": 3097390,
      "purpose": "Home purchase",
      "rate": 9,
      "tracts": 76072,
      "tracts_black": 8232
    },
    {
      "conf_high": 21.2,
      "conf_low": 20.2,
      "decided": 440105,
      "purpose": "Refinance",
      "rate": 20.7,
      "tracts": 36779,
      "tracts_black": 1155
    },
    {
      "conf_high": 36.4,
      "conf_low": 35.3,
      "decided": 616812,
      "purpose": "Cash-out refinance",
      "rate": 35.8,
      "tracts": 46525,
      "tracts_black": 2938
    }
  ],
  "id": "denial_by_loan_purpose",
  "notes": [
    "Each row counts tracts whose all-applicant cell for the purpose has {fact:suppress_floor} or more applications, a withholding rule of this book's staging step that counts applications of every action taken. Cells under that floor are missing, never zero, and leave both the denied and the decided counts. Tracts differ across rows because the floor binds more often for refinance and cash-out loans.",
    "The file covers first-lien loans on site-built homes with up to four units that applicants intend as a principal residence, from lenders above the HMDA reporting thresholds. Loan type (conventional, FHA, VA or USDA) is not in the tract file. Puerto Rico is left out."
  ],
  "source": "HMDA Loan/Application Register, 2024, tract totals of decided applications; Area Deprivation Index, 2023; full counts, pooled rates",
  "spec": {
    "columns": [
      {
        "key": "purpose",
        "label": "Loan purpose"
      },
      {
        "format": {
          "thousands": true
        },
        "key": "tracts",
        "label": "Tracts with a published cell"
      },
      {
        "format": {
          "thousands": true
        },
        "key": "decided",
        "label": "Decided applications"
      },
      {
        "format": {
          "digits": 1
        },
        "key": "rate",
        "label": "Denial rate (%)"
      },
      {
        "format": {
          "digits": 1
        },
        "key": "conf_low",
        "label": "Lower limit of the 95% interval (%)"
      },
      {
        "format": {
          "digits": 1
        },
        "key": "conf_high",
        "label": "Upper limit of the 95% interval (%)"
      },
      {
        "format": {
          "thousands": true
        },
        "key": "tracts_black",
        "label": "Tracts with a published rate for Black applicants"
      }
    ]
  },
  "subtitle": "Denied share of decided applications, tracts of the 50 states and DC with a published cell, 2024, by loan purpose",
  "title": "Decided home-purchase applications were denied {fact:rate_all} of the time, against {fact:rate_refi} for refinance and {fact:rate_cashout} for cash-out refinance loans",
  "type": "table",
  "width": "body"
}