CoreLogic: Foreclosure and mortgage delinquency rates drop in Prov. metro and R.I. in February

CORELOGIC SAID foreclosure rates and mortgage delinquency rates fell year over year in February in the Providence-Warwick metropolitan area and in Rhode Island, as well as nationally. / COURTESY CORELOGIC
CORELOGIC SAID foreclosure rates and mortgage delinquency rates fell year over year in February in the Providence-Warwick metropolitan area and in Rhode Island, as well as nationally. / COURTESY CORELOGIC

PROVIDENCE – The foreclosure rate in the Providence-Warwick metropolitan area in February was 1.68, slightly lower than it was in February 2015 when it was 1.71 percent, CoreLogic said Tuesday.
Rhode Island’s foreclosure rate was 1.63 percent; it also fell slightly from a year ago when it was 1.66 percent.
Still, foreclosure activity in the Providence metro and Rhode Island remained higher than the national foreclosure rate, which was 1.13 percent in February. The national rate also experienced a higher year-over-year drop, of 0.33 percent, CoreLogic said.
The percentage of mortgage loans that were more than 90 days late fell year over year in February in the Providence metro and Rhode Island, to 4.51 percent from 5.5 percent, and 4.46 percent from 5.47 percent, respectively. The national mortgage delinquency rate decreased to 3.16 percent from 3.98 percent over the same period, CoreLogic said.

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