Foreclosure rate decreases in Prov.-Warwick in December

FORECLOSURE RATES declined in the Providence-Warwick metropolitan area in December compared with a year ago, according to data released Thursday by CoreLogic. / COURTESY CORELOGIC
FORECLOSURE RATES declined in the Providence-Warwick metropolitan area in December compared with a year ago, according to data released Thursday by CoreLogic. / COURTESY CORELOGIC

PROVIDENCE – Foreclosure rates declined in the Providence-Warwick metropolitan area in December compared with a year ago, according to data released Thursday by CoreLogic.
Foreclosures among outstanding mortgage loans was 1.66 percent in December, a decrease of 0.37 percentage points from December 2013’s rate of 2.03 percent.
Rhode Island’s foreclosure rate was identical to the Providence-Warwick metro in December, but in 2013, it was higher, at 2.21 percent.
Still, foreclosure rates in the Providence metro and Rhode Island were higher than the national foreclosure rate in December, which was 1.47 percent.
Looking at data from CoreLogic, the foreclosure rate in the Providence-Warwick metropolitan area has been declining since June.
The mortgage delinquency rate also decreased in Providence-Warwick in December, to 5.53 percent from 6.46 percent during the prior year period. The rate was nearly identical to Rhode Island’s, which had 5.52 percent of mortgage loans that were 90 days or more late in December, a 0.91 percentage point drop from December 2013’s rate.
Again, both the Providence metro and Rhode Island had higher 90+ day mortgage delinquency rates than the national average, which was 4.06 percent in December.

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