IRVINE, Calif. – The percentage of mortgage holders in delinquency in Rhode Island fell to 6.1 percent in February, down almost a full percentage point from February 2016.
Despite the improvement, the Providence-Warwick geographic area remained above the national average of 5 percent for mortgages that were delinquent for at least 30 days, according to the latest data published by CoreLogic.
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The property information and analytics firm found that in February, the national rate for mortgages in some phase of foreclosure had improved. The serious delinquency category, for mortgages at least 90 days overdue, including loans in foreclosure, had fallen to 2.2 percent from 2.8 percent the previous year.
The Providence-Warwick area had 2.9 percent of mortgages in arrears at least 90 days in February, although that had improved from the 3.9 percent in that status the year prior.
Among states, Mississippi had the highest 30-day delinquency rate in February, at 9 percent of all mortgage loans.
Among regions, the Northeast had the most severe problem with serious delinquencies. Through February, New York and New Jersey had 90 day or more delinquency rates of 4.6 percent and 4.8 percent, respectively.
Mary MacDonald is a staff writer for the PBN.
Hi Mary,
Why do we refer to it as the “Providence-Warwick” area??
In fact, it is the PROVIDENCE METRO. Warwick is simply a suburb in the metro, no more so than New Bedford or Woonsocket.
Sincerely,
Dr. Steve Castigioni
Providence