PROVIDENCE – Mortgage performance in the Providence-Warwick-Fall River metropolitan area improved year over year in April, but still lags behind the national mortgage performance, according to a report released on Tuesday by CoreLogic, a real estate data and analysis company.
Mortgages delinquent for more than 30 days in the Providence metro area decreased 0.8 percentage points year over year to 5.9 percent in April of 2017. According to CoreLogic, the 30-plus delinquency rate is the most comprehensive measure of mortgage performance.
Nationally, the 30-plus delinquency rate fell 0.5 percentage points year over year in April to 4.8 percent.
Serious delinquency, mortgages that equal or exceed 90 days delinquency, in the Providence metro declined 1 percentage point year over year to 2.7 percent in April 2017. The foreclosure rate in the Providence metro fell 0.4 percentage points to 1 percent of all mortgages in the state.
Nationally, the foreclosure rate dropped 0.3 percentage points year over year to 0.7 percent in April 2017. National 90-plus delinquency rates were not available.
Mirroring the Providence metro’s year-over-year performance in April 2017, Rhode Island’s 30-plus delinquency rate also fell 0.8 percentage points to 5.9 percent and its 90-plus delinquency rate fell 1 percentage point to 2.7 percent.
The foreclosure rate in the state fell 0.1 percentage points more than the Providence metro area, but resulted in the same foreclosure rate: 1 percent of all mortgages are in foreclosure in the state and the Providence metro area.
April 2017 year-over-year New England mortgage performance data:
Connecticut:
- 30-plus delinquencies declined 0.6 percentage points to 5.8 percent of all mortgages.
- 90-plus delinquencies declined 0.7 percentage points to 2.8 percent.
- Foreclosure rate declined 0.4 percentage points to 1.2 percent.
Maine:
- 30-plus delinquencies declined 0.8 percentage points to 6 percent.
- 90-plus delinquencies declined 0.9 percentage points to 3.2 percent.
- Foreclosure rate declined 0.4 percentage points to 1.5 percent.
Massachusetts:
- 30-plus delinquencies declined 0.6 percentage points to 4.7 percent.
- 90-plus delinquencies declined 0.8 percentage points to 2 percent.
- Foreclosure rate declined 0.3 percentage points to 0.8 percent.
New Hampshire:
- 30-plus delinquencies declined 0.3 percentage points to 4 percent.
- 90-plus delinquencies declined 0.4 percentage points to 1.4 percent.
- Foreclosure rate declined 0.1 percentage points to 0.4 percent.
Vermont:
- 30-plus delinquencies declined 0.1 percentage points to 4.1 percent.
- 90-plus delinquencies declined 0.3 percentage points to 1.9 percent.
- Foreclosure rate declined 0.1 percentage points to 1 percent.
Chris Bergenheim is the PBN web editor.
