Foreclosure, delinquency rates drop in metro area for Nov.

Foreclosures in the Providence-Warwick metro area declined for the month of November compared with the same period last year, but rose slightly compared with a month earlier, according to a CoreLogic report released Monday. More

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Foreclosure, delinquency rates drop in metro area for Nov.

COURTESY CORELOGIC
THE FORECLOSURE RATE in the Providence-Warwick metro area came in at 2.11 percent in November, 0.69 percentage points less than 2.8 percent in November 2012, and 0.07 percentage points below the national rate for November of 2.18 percent.
Posted 1/22/14

IRVINE, Calif. – Foreclosures in the Providence-Warwick metro area declined for the month of November compared with the same period last year, but rose slightly compared with a month earlier, according to a CoreLogic report released Jan. 20.

The CoreLogic data put the rate of metro-area foreclosures among outstanding mortgage loans at 2.11 percent in November, a decline of 0.69 percentage points from 2.8 percent in November 2012.

In October, the CoreLogic foreclosure rate for the metro area was 2.07 percent.

CoreLogic defines the foreclosure rate as the percentage of home loans in some stage of the foreclosure process, and does not include new foreclosure filings.

Foreclosure activity in Providence-Warwick for November was 0.07 percentage points lower than the national foreclosure rate of 2.18 percent. A year ago, the U.S. foreclosure rate was 2.97 percent.

The mortgage delinquency rate also dropped in the Providence-Warwick metro area for November. According to CoreLogic report, 6.46 percent of mortgage loans were delinquent 90 days or more in November, compared with 7.28 percent during the same period last year. The Providence-Warwick mortgage delinquency rate held steady from October, when it was also 6.46 percent.

Providence-Warwick’s mortgage delinquency rate for November was higher than the national rate of 5.09 percent. In November 2012, 6.45 percent of mortgage loans were delinquent 90 days or more in the United States.

CoreLogic, based in Irvine, Calif., is a property information, analytics and services provider in the United States and Australia.

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