PROVIDENCE – The share of mortgages in delinquency 30 days or more in Rhode Island was 4.5% in November, a 0.1 percentage point decline year over year.
Rhode Island’s rate was higher than the national rate of 3.9% in November, a decline from 4% one year prior. The rate in the Ocean State was also tied for the second highest in New England, along with Maine.
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“Overall delinquency rates remain at 20-year lows spurred on by tight underwriting standards following the onset of the Great Recession, a robust and accelerating economic cycle over the past five years and the increasing underlying health of the housing economy,” said Frank Martell, president and CEO of CoreLogic.
Other New England mortgage delinquency rates in November:
- New Hampshire: 3.2%, a 0.1 percentage point decline year over year
- Vermont: 3.2%, a 0.2 percentage point decline year over year
- Massachusetts: 3.7%, a 0.1 percentage point decline year over year
- Maine: 4.5%, a 0.2 percentage point decline year over year
- Connecticut: 5%, unchanged from one year prior
The serious delinquency rate, or the share of mortgages overdue 90 days or more in Rhode Island, was 1.5% in November, a decline from 1.7% in November 2018. The foreclosure rate in the state was 0.6%, unchanged from one year prior.
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