PROVIDENCE – Foreclosure rates declined year over year by two-tenths of a percentage point in February in the Providence-Warwick metropolitan area, according to data released Thursday by CoreLogic.
The foreclosure rate for the metropolitan area was 1.7 percent, slightly above Rhode Island’s overall foreclosure rate of 1.6 percent, which decreased four-tenths of a percentage point. The national foreclosure rate was 1.4 percent in February.
The mortgage delinquency rate also dipped in the Providence-Warwick metro area – 5.4 percent of mortgage loans were 90 days or more late compared with 6.2 percent during the year-ago period.
Rhode Island also had 5.4 percent of mortgage loans that were 90 days or more late, a drop of 0.8 percent from 6.2 percent a year ago.
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