R.I. mortgage delinquency declines in July

THE MORTGAGE DELINQUENCY rate in Rhode Island declined to 4.3% in July. / BLOOMBERG NEWS FILE PHOTO/DAVID CALVERT
THE MORTGAGE DELINQUENCY rate in Rhode Island declined to 4.3% in July. / BLOOMBERG NEWS FILE PHOTO/DAVID CALVERT

PROVIDENCE – The percentage of Rhode Island mortgages delinquent 30 days or more was 4.3% in July, a 0.2 percentage point decline year over year, according to CoreLogic Tuesday.

Rhode Island’s mortgage delinquency rate was the third highest in New England and 0.5 percentage points higher than the national rate of 3.8%, which declined 0.3 percentage points from one year prior. Two New England states experienced year-over-year increases in mortgage delinquency rates in July: New Hampshire and Vermont.

Mortgage delinquency rates in New England in July:

  • New Hampshire: 3.4%, a 0.2 percentage point increase year over year
  • Massachusetts: 3.5%, a 0.3 percentage point decline year over year
  • Vermont: 3.8%, a 0.5 percentage point increase year over year
  • Rhode Island: 4.3%, a 0.2 percentage point decline year over year
  • Maine: 4.6%, a 0.2 percentage point decline year over year
  • Connecticut: 4.7%, a 0.2 percentage point decline year over year

The serious delinquency rate in Rhode Island, or the share of mortgages delinquent 90 days or more, was 1.6% in July, a 0.2 percentage point decline year over year. The national serious delinquency rate was 1.3% that month, a decline from 1.6% one year prior.

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Rhode Island’s foreclosure rate ticked down 0.1 percentage points year over year in July to 0.5%.

The report may be viewed online but may require free registration.

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