CoreLogic: Metro-area foreclosure rate drops to 1.8% for June

THE FORECLOSURE RATE in the Providence-Warwick metro area came in at 1.78 percent in May, dropping from the 2.35 percent rate reported in June 2013. / COURTESY CORELOGIC
THE FORECLOSURE RATE in the Providence-Warwick metro area came in at 1.78 percent in May, dropping from the 2.35 percent rate reported in June 2013. / COURTESY CORELOGIC

IRVINE, Calif. – Foreclosures in the Providence-Warwick metro area represented 1.78 percent of all mortgages for the month of June, compared with 2.35 percent for the same month last year, according to data released Wednesday by CoreLogic.
The regional foreclosure rate, which measures the percentage of loans in some state of the foreclosure process and does not include new foreclosure filings, remained above the national rate of 1.7 percent for the month of June, which fell by eight-tenths of a percentage point year over year.
The real estate data tracking firm also reported a 1 percentage point decline in the serious delinquency rate for the region in June. In the Providence-Warwick metro area, which includes all of Rhode Island except for Newport County as well as Bristol County, Mass., 5.82 percent of all mortgages were delinquent 90 days or more compared with 6.82 percent in June 2013.
Nationwide, delinquencies dropped 1.19 percentage points to 4.38 percent from 5.57 percent the previous year.
Statewide in Rhode Island for the month of June, the foreclosure rate dropped to 1.89 percent from 2.44 percent year over year, while the serious delinquency rate dropped to 5.76 percent from 6.88 percent.
The foreclosure rate actually increased in June from May, rising to 1.78 percent from 1.77 percent. At the same time the serious delinquency rate fell to 5.82 percent from 5.83 percent in May.

CoreLogic, based in Irvine, Calif., is a property information, analytics and services provider in the United States and Australia.

No posts to display