PROVIDENCE – The share of mortgages in delinquency 30 days or more in Rhode Island was 2.9% in April, up slightly from the previous month but down from 4.4% year over year, CoreLogic Inc. said on Tuesday.
Rhode Island’s March delinquency rate was 2.6%. The national delinquency rate in April was 2.9%, a decline from 4.7% in April 2021.
“The U.S. foreclosure rate edged up in spring 2022 after hitting a historic low at the end of 2021,” said Molly Boesel, principal economist at CoreLogic. “Moratoria and forbearance that helped keep homeowners out of foreclosure are expiring for many borrowers but ongoing strong employment numbers and large amounts of equity should keep foreclosure rates low.”
Rhode Island and Maine tied for the second-highest mortgage delinquency rate in New England in April, behind only Connecticut:
- Connecticut: 3.5%, a decline from 5.8% one year prior.
- Maine: 2.9%, a decline from 4.1% one year prior.
- Massachusetts: 2.5%, a decline from 3.9% one year prior.
- Vermont: 2.4%, a decline from 3.4% one year prior.
- New Hampshire: 2.2%, a decline from 3.3% one year prior.
The serious delinquency rate, or the share of mortgages past due 90 days or more, in Rhode Island was 1.4% in April, a decline from 3% one year prior. The foreclosure rate in April was 1.4%, a decline from 3% in April 2021.
California-based CoreLogic provides financial, property and consumer information, analytics and business intelligence. The full report can be viewed here.
