Foreclosure rate falls in Prov. metro, R.I. in July

CORELOGIC SAID the foreclosure rate and 90-day delinquency rate fell over the year in Rhode Island, the Providence-Warwick-Fall River metropolitan area and U.S. in July. / COURTESY CORELOGIC
CORELOGIC SAID the foreclosure rate and 90-day delinquency rate fell over the year in Rhode Island, the Providence-Warwick-Fall River metropolitan area and U.S. in July. / COURTESY CORELOGIC

PROVIDENCE – The foreclosure rate in the Providence-Warwick-Fall River metropolitan area was 1.4 percent in July, a decrease of 0.26 percentage points compared with July 2015 when the rate was 1.66 percent, CoreLogic said this week.

At 1.36 percent, Rhode Island’s foreclosure rate nearly matched the Providence metro’s in July; the Ocean State’s foreclosure rate also fell over the year, as it was 1.57 percent in July 2015.

Despite the over-the-year drops, foreclosure rates in July in Providence-Warwick and Rhode Island were higher than the national foreclosure rate, which was 0.93 percent that month.

Continuing a downward pattern, the 90-day mortgage delinquency rate fell in the Providence-Warwick metro in July, to 3.89 percent from 4.92 percent a year ago. Rhode Island’s mortgage delinquency rate also dropped to 3.87 percent from 4.89 percent.

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Mortgage delinquency rates for both the Providence-Warwick metro and Rhode Island again were higher than the national mortgage delinquency rate, which was 2.82 percent in July, lower than July 2015’s 3.56 percent.

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