According to a study by the Federal Reserve [PDF] [1] blacks are 3 times more likely to borrow through sub-prime lenders than whites. Sub-prime mortgages are typically 2% above prime rates.
[New York Times] Blacks Hit Hardest by Costlier Mortgages [2]
The new report, based on data collected from 8,853 lenders, is the Fed’s first attempt to look for evidence of racial and ethnic discrimination in the booming business in exotic mortgages and subprime lending.