Michael discusses rise in mortgage loan denials for classified groups

Concerns over rising mortgage loan denials for specific groups took center stage at the City of Salem Council meeting on July 14, 2025. Council members expressed alarm over a report revealing a significant increase in denial rates, with figures jumping from 8% to 22% for some demographics and from 17% to a staggering 51% for others.

One council member voiced their shock, stating, "This is very disheartening," and called for strategies to address the troubling trend. The discussion highlighted a comparison between the 2020 and 2025 analyses of impediments, revealing that despite expectations for improvement, the situation has largely remained stagnant over the past five years.

The council's focus on this issue underscores a growing concern about equity in housing access within the community. As the meeting concluded, there was a clear call for further investigation and action to tackle these disparities, with promises to provide more information in future sessions. The implications of these findings could lead to significant policy discussions aimed at fostering fairer lending practices in Salem.