PROVIDENCE – Mortgage delinquencies in the Providence metropolitan area declined year over year in June, according to a CoreLogic report Monday.
The share of mortgages more than 30 days delinquent days declined 1 percentage point year over year to 5.5 percent in June, while serious delinquencies, or loans 90 or more days past due, declined 0.9 percentage points to 2.5 percent.
Nationally, the share of mortgages 30 or more days past due was 4.5 percent in June 2017, 0.8 percentage points lower than one year prior.
The foreclosure rate in the Providence metro area was 1 percent in June, 0.4 percentage points lower than in June 2016.
The trends of the metro area were also reflected in Rhode Island mortgage loan performance. The percentage of mortgages overdue 30 or more days in June was 5.5 percent, 1 percentage point lower than June 2016. The share of 90 or more days delinquent mortgages was 2.6 percent in June, a 0.9 percentage point drop from the previous year. The foreclosure rate in the Ocean State was 0.9 percent in June 2017, 0.4 percentage points lower than one year prior.
Serious mortgage delinquency declined in every state in the nation except for North Dakota, where 90 or more day delinquency remained at 0.9 percent and Alaska, where serious delinquency increased 0.2 percentage points year over year to 1.2 percent of mortgages.
At the same time, the foreclosure rate in North Dakota increased 0.1 percentage point in June to 0.5 percent, while holding the same in Alaska at 0.3 percent.
Chris Bergenheim is the PBN web editor.
