Mortgage delinquency in R.I. declines to 4.2% in April

PROVIDENCE – The delinquency rate of mortgages of 30 days or more in Rhode Island declined 0.5 percentage points year over year to 4.2% in April, CoreLogic reported July 9.

The national delinquency rate declined 0.7 percentage points year over year to 3.6%.

“The U.S. has experienced 16 consecutive months of falling overall delinquency rates, but it has not been a steady decline across all areas of the country,” said Frank Martell, president and CEO of CoreLogic, in the report.

Rhode Island had the third-highest delinquency rate in New England ahead of Maine at 4.4% and Connecticut at 4.5%. Rhode Island’s mortgage-delinquency rate was higher than Massachusetts at 3.2% and New Hampshire and Vermont at 3%.

- Advertisement -

Delinquency of 90 days or more, or serious delinquency, in Rhode Island accounted for 1.6% of all mortgages, a 0.4 percentage-point decline from April 2018.

The foreclosure rate in the Ocean State dipped 0.1 percentage points year over year to 0.6%.