PROVIDENCE – Foreclosure rates in Rhode Island were lower in August than they were a year ago, but they are still higher than the national average, according to information from data firm CoreLogic released Thursday.
The foreclosure rate in August for the entire state was 1.88 percent, lower than last August’s 2.38 percent, a decrease of 0.50 percentage points. In the Providence-Warwick area, the rate of foreclosures among outstanding mortgage loans was 1.75 percent for the month of August compared with a rate of 2.26 percent in August 2013, a decrease of 0.51 percentage points.
The national foreclosure rate for August was 1.61 percent.
The percentage of loans that were more than 90 days delinquent, including those in foreclosure and real estate owned, was 5.66 percent in August for the entire state, lower than the August 2013 delinquency rate of 6.70 percent.
The mortgage delinquency rate for Providence-Warwick also decreased in August, as 5.73 percent of mortgage loans were 90 days or more delinquent compared with 6.66 percent for the same period last year, representing a decrease of 0.93 percentage points.
Home Economy Economic Activity CoreLogic: R.I. foreclosure rates decrease again, still higher than national average
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