PROVIDENCE – Mortgage delinquencies in the Providence metropolitan area declined 0.7 percentage points to 5.5 percent in October, according to a CoreLogic report issued Tuesday.
Serious delinquency, or mortgages 90 or more days past due, including foreclosures, in the Providence-Warwick-Fall River metro declined to 2.3 percent in October, compared with 3 percent one year prior. The percentage of home loans in foreclosure in the metro area fell to 0.8 percent, one-third less than the 1.2 percent rate in October 2016.
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The mortgage delinquency rate across the nation in October was 5.1 percent, a year-over-year decline of 0.1 percentage points.
Nationally, serious mortgage delinquency rate was 1.9 percent of all mortgages, a 0.4 percentage point decline over the year. The national foreclosure rate declined 0.2 percentage points to 0.6 percent in October.
Statewide mortgage delinquency data
Rhode Island:
- Mortgages in some form of delinquency 30 days or more was 5.5 percent in October, a decline of 0.8 percentage points year over year
- Serious delinquency declined 0.6 percentage points to 2.4 percent
- The foreclosure rate was 0.8 percent, a 0.3 percentage point decline year over year
Massachusetts:
- Mortgages in some form of delinquency accounted for 4.3 percent of all mortgages, compared with 4.9 percent one year prior
- Serious delinquency was 1.8 percent in October, a 0.5 percentage point decline year over year
- The Massachusetts foreclosure rate was 0.7 percent in October, 0.3 percentage points lower than in October 2016
Chris Bergenheim is the PBN web editor.
