CoreLogic: R.I. foreclosure rates decrease, still higher than national average

CORELOGIC reported that foreclosure rates in Rhode Island decreased in July, but remained above than the national average. / COURTESY CORELOGIC
CORELOGIC reported that foreclosure rates in Rhode Island decreased in July, but remained above than the national average. / COURTESY CORELOGIC

PROVIDENCE – Foreclosure rates in Rhode Island were lower in July than they were a year ago, but are still higher than the national foreclosure rate, according to information released Tuesday from data firm CoreLogic.
The foreclosure rate in July for the entire state was 1.91 percent, lower than last July’s 2.45 percent. In the Providence-Warwick area, the foreclosure rate in July was 1.8 percent, a decrease of 0.5 percentage points compared with 2.3 percent in July 2013.
While the rates were lower than they were a year ago, foreclosure activity remains higher than the national foreclosure rate, which was 1.66 percent in July.
Statewide, 5.7 percent of mortgages were delinquent in July for 90 days or more, compared with 6.8 percent in July 2013.
Those figures compare with July’s national mortgage-delinquency rate of 4.3 percent, down from July 2013’s 5.5 percent.

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