PROVIDENCE – The share of mortgages in delinquency 30 days or more in Rhode Island was 2.9% in October, down from 3.6% year over year, CoreLogic Inc. said on Tuesday.
The national delinquency rate in October was 2.8%, a decline from 3.8% in October 2021 and still near the lowest delinquency rate seen in more than two decades, according to the report.
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“The share of loans in early-stage delinquency increased slightly in October, led by Florida, which began to see the effects of Hurricane Ian,” said Molly Boesel, principal economist at CoreLogic. “The Punta Gorda and Cape Coral metro areas on Florida’s Gulf Coast saw early-stage mortgage delinquencies triple. If past storm impacts are an accurate barometer, delinquencies in these metros should decrease between the next six to 12 months.”
Rhode Island had the second-highest mortgage delinquency rate in New England in October, behind Connecticut:
- Connecticut: 3.4%, a decline from 4.5% one year prior.
- Maine: 2.8%, a decline from 3.6% one year prior.
- Massachusetts: 2.4%, a decline from 3.2% one year prior.
- Vermont: 2.3%, a decline from 2.9% one year prior.
- New Hampshire: 2.1%, a decline from 2.7% one year prior.
The serious delinquency rate, or the share of mortgages past due 90 days or more, in Rhode Island was 1.2% in October, a decline from 3.6% one year prior. The foreclosure rate in October was 0.3%, same as October 2021.
