CoreLogic: Foreclosure rates fall in May in R.I., Prov. metro

THE FORECLOSURE RATE in the Providence-Warwick metropolitan area decreased in May to 1.6 percent. / COURTESY CORELOGIC
THE FORECLOSURE RATE in the Providence-Warwick metropolitan area decreased in May to 1.6 percent. / COURTESY CORELOGIC

PROVIDENCE – Foreclosure rates in Rhode Island and the Providence-Warwick metropolitan area decreased in May to 1.4 percent and 1.6 percent, respectively, but are still higher than the national rate of 1.3 percent.
CoreLogic released foreclosure data Tuesday, showing that Rhode Island’s foreclosure rate declined nearly 0.5 percentage points, while the Providence metro dropped 0.2 percentage points.
The Providence metro’s foreclosure rate has been declining since February.
The mortgage delinquency rate – loans that are 90 days or more late – also fell in Rhode Island and the Providence metro in May to 5 percent. A year ago, the rate was 5.8 percent in Rhode Island and 5.9 percent in the Providence metro, CoreLogic said.
The mortgage delinquency rates for Rhode Island and the Providence metro also remain higher the national mortgage delinquency rate of 3.6 percent, which fell over the year from 4.5 percent.
The 90-day delinquency rate has been declining in the Providence metro area since November.

No posts to display