economic indicators

Foreclosure, delinquency rates drop in Providence Metro in February

COURTESY CORELOGIC
BOTH THE FORECLOSURE RATE and the mortgage delinquency rate in the Providence-New Bendford-Fall River metropolitan area fell in February, CoreLogic announced Friday.
Posted 4/26/13

PROVIDENCE – The Providence-Fall River-New Bedford area foreclosure rate fell 0.14 percentage points for February compared to the same period in 2012, CoreLogic said Friday.

The California-based real estate data firm reported a foreclosure rate of 2.84 percent for the metro area in February, down from a 2.98 percent rate in February 2012 and down from 2.86 percent for January 2013.

The mortgage delinquency rate also decreased for February compared to last year. The amount of mortgage loans that were 90 days or more delinquent was 7.2 percent for February, compared to 7.55 percent in February 2012.

Excluding Bristol County, Mass., Rhode Island’s foreclosure rate fell 0.10 percentage points from last year, coming in at 3.04 percent in February compared to 3.14 percent in February 2012.

The Rhode Island 90-day delinquency rate also fell by 0.30 percentage points, from 7.6 percent in February 2012 to 7.3 percent in February 2013.

The metro area foreclosure rate was lower than the national rate, which was 2.85 percent for February.

The national 90-day delinquency rate also fell by 0.98 percentage points, from 7.17 percent in February 2012 to 6.19 percent in February 2013.

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