PROVIDENCE – Mortgage delinquency rates and foreclosure rates declined both in the Providence metropolitan area and Rhode Island in September, mirroring a national decline, according to CoreLogic Tuesday.
Mortgages 30 days or more delinquent, including mortgages in foreclosure, in the Providence metro declined 0.5 percentage points year over year in September to 5.7 percent.
Seifert Systems Invests in Energy Efficiency to Strengthen Operations
For manufacturers, energy is more than just another operating expense. It plays a critical role…
Learn More
In the Providence metro, the percentage of mortgages in serious delinquency, or mortgages more than 90 days past due, declined 0.7 percentage points year over year to 2.4 percent. The foreclosure rate in the metro area was 0.8 percent, a 0.4 percentage-point decline year over year.
Nationally, 5 percent of mortgages were 30 days or more delinquent in September, a 0.2 percentage-point decline from one year prior.
Serious delinquency also declined nationally, falling 0.4 percentage points year over year to 1.9 percent of mortgages. The U.S. mortgage foreclosure rate was 0.6 percent in September, a tick down from the 0.8 percent a year prior.
In September, 5.6 percent of Rhode Island mortgages were 30 days or more delinquent, a 0.7 percentage-point decline from September 2016.
In Rhode Island, mortgages more than 90 days past due accounted for 2.5 percent of all mortgages, a 0.6 percentage-point decline year over year.
The foreclosure rate in Rhode Island in September declined 0.3 percentage points year over year to 0.8 percent.
CoreLogic said in September, 4.5 percent of Massachusetts mortgages were in some form of delinquency (30 days or more), 1.8 percent of mortgages were in serious delinquency and 0.7 percent were in foreclosure.
Chris Bergenheim is the PBN web editor.
