ECONOMIC INDICATORS

Providence area foreclosures drop, delinquencies rise in May

COURTESY CORELOGIC
THE FORECLOSURE RATE in the Providence-Fall River-New Bedford area fell .2 percentage points in May compared with the same period last year, CoreLogic said Wednesday.
Posted 7/25/12

PROVIDENCE – The foreclosure rate in the Providence-Fall River-New Bedford area fell .2 percentage points in May compared with the same period last year, CoreLogic said Wednesday.

Figures released by the Santa Ana, Calif.-based real estate data firm showed 2.87 percent of outstanding home loans in the Providence area were subject to foreclosure in May, down from 3.07 percent in May 2011.

The declining foreclosure rate was driven by Rhode Island, where the year-over-year foreclosure rate fell .3 percentage points in May to 3.04 percent.

Although the foreclosure rate dropped, the mortgage delinquency rate in the Providence area rose .05 percentage points in May compared with the same period last year. 7.32 percent of all Providence area mortgages are now 90 days or more past due, up from 7.27 percent last May.

The increase in delinquencies was driven by Bristol County, Mass. as Rhode Island’s year-over-year mortgage delinquency rate fell .05 percentage points in May to 7.37 percent.

The rise in the Providence area delinquency rate lifted it further above the national delinquency rate, which fell .36 percentage points in May compared with the same period last year to 6.94 percent.

The foreclosure rate in the Providence area remains below the national rate, which fell .05 percentage points in May to 3.41 percent.

Calendar
PBN Hosted
Events

Please join PBN on September 10th for the 3rd Annual Fastest Growing & Innovative Companies program at Rosecliff Mansion in Newport. Seating is limited so be sure to register early.
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News
    Advertisement