As an economics major, I love the Pew Research Center. They come up with the most interesting financial information by race. Instead of treating everybody as equals, they go the government route by categorizing everybody into different buckets to see if something can be gleaned.
Here’s a good example of an interesting chart about mortgage rates by race. Instead of labeling the chart with a neutral title such as, “Mortgage Rates By Race,” like I did with this article, the Pew Research Center decided to focus on the negatives and entitled it, “Blacks, Hispanics More Likely To Pay Higher Mortgage Rates.” Depressing!
Why didn’t they entitle the chart with something more positive such as, “Being Asian Can Get You A Lower Mortgage Rate,” or “Although Asians Need Higher Grades And Test Scores To Have The Same Chance To Get Into University, At Least Asians Get To Pay Lower Mortgage Rates,” or “Despite Some Disadvantages Of Being A Minority, You Can Still Get The Best Mortgage Rate Possible,” or “Being A Minority May Make It Easier To Get A Better Rate.” Great titles such as these focus on the positives of the data, rather than only the negatives.
As an online media entrepreneur, my suspicion for why Pew Research Center and the like focus on the negatives is due to the desire for attention. A negative title creates controversy by bringing up the suspicion of discrimination. But if there is discrimination among Blacks and Hispanics, why would there not also be discrimination against Asians? We’re all minorities, after all.
Given I’m an Asian person who recently refinanced my 5/1 adjustable rate mortgage to 2.35% after four long months, I thought I could shed some light again on how all races can get a lower mortgage rate. We all want the same thing, so let’s stop segregating ourselves, shall we?