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