R.I. mortgage delinquency declines in May, still above U.S. rate

THE MORTGAGE DELINQUENCY rate in Rhode Island declined to 4.2% in May. / BLOOMBERG NEWS FILE PHOTO/DAVID CALVERT
THE MORTGAGE DELINQUENCY rate in Rhode Island declined to 4.2% in May. / BLOOMBERG NEWS FILE PHOTO/DAVID CALVERT

PROVIDENCE – The share of Rhode Island mortgages in 30-day-or-more delinquency in May was 4.2%, a 0.5 percentage point decline year over year, according to CoreLogic Tuesday.

Nationally, the mortgage delinquency rate was 3.6%. Rhode Island had the third-highest mortgage delinquency rate in New England in May, ahead of Connecticut and Maine. The highest mortgage delinquency rate of any state was in Mississippi, where the rate was 6.9%.

New England mortgage delinquency rates in May:

  • Connecticut: 4.5%
  • Maine: 4.4%
  • Rhode Island: 4.2%
  • Massachusetts: 3.3%
  • Vermont: 3%
  • New Hampshire: 2.9%

Serious delinquency for mortgages, or mortgages that have payments delinquent 90 days or more, in Rhode Island, accounted for 1.6% of all mortgages, an improvement from 2% one year prior. Nationally, the serious delinquency rate was 1.3% at that time.

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The foreclosure rate in the Ocean State for the month was 0.6% in May, a decline of 0.1 percentage points year over year. Nationally, the foreclosure rate was 0.4%.

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

Chris Bergenheim is the PBN web editor. You may reach him at Bergenheim@PBN.com.

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