Updated October 6 at 6:06pm

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Foreclosure rate drops slightly in Providence metro


PROVIDENCE – The foreclosure rate in the Providence-Fall River-New Bedford area fell 0.31 percentage points in April compared with the same period last year, CoreLogic said Tuesday.

The California-based real estate tracking firm said 2.82 percent of mortgages in the Providence area were subject to foreclosure during April, down from 3.13 percent during the same period 2011.

The decline sent the area foreclosure rate even further below the national rate of 3.41 percent, which declined only 0.06 percentage points from April 2011.

Within the area, the Rhode Island foreclosure rate fell 0.41 percentage points year-over-year in April to 2.97 percent.

The percentage of homes with mortgages 90 or more days delinquent in the Providence area was flat in April compared with last April, remaining at 7.39 percent. In Rhode Island, the 90-day delinquency rate dropped 0.12 percentage points to 7.44 percent.

The national mortgage delinquency rate fell 0.33 percentage points in April from last year to 7.07 percent.


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