CoreLogic: Foreclosure rate increases in Prov. metro

THE FORECLOSURE RATE in the Providence-Warwick metropolitan area was 1.8 percent in August, an increase compared with August 2014, CoreLogic said. / COURTESY CORELOGIC
THE FORECLOSURE RATE in the Providence-Warwick metropolitan area was 1.8 percent in August, an increase compared with August 2014, CoreLogic said. / COURTESY CORELOGIC

PROVIDENCE – The foreclosure rate among outstanding mortgage loans in the Providence-Warwick metropolitan area was 1.8 percent in August, a .04 percentage point increase compared with August 2014, CoreLogic said Thursday.
The metro area foreclosure rate, which has been inching up since June, topped Rhode Island’s rate at 1.75 percent and the national rate, which was 1.25 percent, according to CoreLogic.

As for the mortgage delinquency rate in the Providence metro, it declined to 4.87 percent, compared with 5.75 percent during the same period last year.
The mortgage delinquency rate represents loans that are late by 90 days or more.
Rhode Island’s mortgage delinquency rate almost matched the Providence metro’s rate of 4.85 percent.
The national mortgage delinquency rate, at 3.44 percent, again was lower than rates in the Providence metro and Rhode Island, CoreLogic said.

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