PROVIDENCE – The percentage of mortgages delinquent for more than 30 days in the Providence-Warwick-Fall River metropolitan area declined 0.7 percentage points year over year in November to 5.6 percent, but remained higher than the national average, according to CoreLogic Tuesday.
Nationally, 5.1 percent of all mortgages were in delinquency by 30 days or more in November, compared with 5.2 percent one year prior.
Mortgages in serious delinquency in the Providence-Warwick metro, or mortgages 90 days or more past due, also declined 0.7 percentage points year over year to 2.3 percent of all mortgages in the area. The foreclosure inventory rate in November was 0.8 percent, a 0.4 percentage point decline year over year.
Nationally, the serious delinquency rate declined 0.3 percentage points to 2 percent in November, while the foreclosure rate declined 0.2 percentage points to 0.6 percent.
Early-stage delinquency – those 30 days or more behind their payment schedule – in Rhode Island in November constituted of 5.5 percent of all mortgages, a 0.8 percentage point decline year over year. Serious delinquency also declined, from 3 percent in November 2016 to 2.3 in November 2017. The foreclosure inventory rate dropped 0.4 percentage points year over year to 0.8 percent.
In Massachusetts, 4.4 percent of all mortgages were in some form of delinquency, a decline of 0.6 percentage points year over year. The serious delinquency rate in the Bay State was 1.8 percent in November, a decline of 0.5 percentage points year over year. Massachusetts’ foreclosure inventory rate declined 0.3 percentage points year over year to 0.7 percent.
Chris Bergenheim is the PBN web editor.