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Currently, American mortgage rates are at an all-time low. However access to those rates are incumbent upon excellent credit scores and a 20 percent down payment. Previous data has shown that on average, Black Americans have lower credit scores and less savings. New research released by MIT earlier this month indicates that for Black Americans, the dream of homeownership is more costly to become a reality. Inequities in mortgage interest payments ($743 annually), mortgage insurance premiums ($550 annually), and property taxes ($390 annually) 'make it impossible for