PROVIDENCE – The delinquency rate for mortgages overdue by 30 or more days declined 0.7 percentage points year over year to 5.4 percent of all mortgages in Rhode Island in January, according to CoreLogic data released April 10.
The serious delinquency rate, or the percentage of mortgage payments overdue by 90 days or more, was 2.3 percent in January in the Ocean State.
The state’s foreclosure rate declined 0.3 percentage points year over year to 0.8 percent.
However, despite the decline in delinquency, serious delinquency and foreclosure rates in the Ocean State, all of which outpaced national year-over-year recovery rates, Rhode Island’s delinquencies and foreclosures remained above the national average for all three metrics.
Thirty-day or more delinquency in the Providence-Warwick-Fall River metropolitan area declined 0.7 percentage points year over year to 5.4 percent in January. Serious delinquency in the metro similarly declined 0.7 percentage points to 2.3 percent.