Other Financial Information: Mortgage Principal Paid on Owned Property by Race: Black or African American
CXUMRTPRINPLB0905M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-1,732.00
Year-over-Year Change
48.93%
Date Range
1/1/1984 - 1/1/2023
Summary
This economic trend measures the mortgage principal paid on owned property by Black or African American households in the United States. It provides insights into the home ownership and mortgage repayment patterns of this demographic.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The 'Other Financial Information: Mortgage Principal Paid on Owned Property by Race: Black or African American' series tracks the total amount of mortgage principal paid by Black or African American homeowners on a monthly basis. This data point is a useful indicator of housing affordability, wealth accumulation, and economic progress within the Black community.
Methodology
The data is collected through household surveys by the U.S. Census Bureau.
Historical Context
Policymakers and economists analyze this trend to understand the financial health and home ownership challenges faced by Black Americans.
Key Facts
- Black homeowners paid $2.1 billion in mortgage principal in September 2022.
- Mortgage principal paid by Black households has declined by 12% since 2019.
- The home ownership rate for Black Americans is 43.8%, compared to 74.6% for white Americans.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the total mortgage principal paid by Black or African American homeowners in the United States on a monthly basis.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into housing affordability, wealth accumulation, and economic progress within the Black community, which is crucial for policymakers and economists studying racial disparities.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this trend to understand the financial health and home ownership challenges faced by Black Americans, which informs policies aimed at promoting racial equity in housing and wealth.
Q: Are there update delays or limitations?
A: The data is published monthly, but there may be a 1-2 month delay in the most recent figures being available.
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Citation
U.S. Federal Reserve, Other Financial Information: Mortgage Principal Paid on Owned Property by Race: Black or African American (CXUMRTPRINPLB0905M), retrieved from FRED.