Black and [tag]Hispanic borrower[/tag]s were more likely than whites to receive refinanced mortgages with higher interest rates, according to a study released by the Consumer Federation of America. Nearly half of [tag]black borrower[/tag]s were more likely to receive a high-cost, subprime loan, while Hispanics received higher rates about one-third of the time. White borrowers were offered loans with [tag]higher interest rates[/tag] in fewer than 25% of the cases.

The CFA looked at more than 5 million mortgages originated by 30 lenders nationwide. The CFA collected data on loans originated between April and August 2005. Similar data was sent to the Federal Reserve Board under the Home Mortgage Disclosure Act. The Fed is expected to release its report later this year.

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