Foreclosure rate falls in Prov. metro, R.I. in August

CORELOGIC SAID foreclosure rates fell over the year in August in the Providence-Warwick-Fall River metropolitan area and in Rhode Island, but still exceeded the national rate that month. / COURTESY CORELOGIC
CORELOGIC SAID foreclosure rates fell over the year in August in the Providence-Warwick-Fall River metropolitan area and in Rhode Island, but still exceeded the national rate that month. / COURTESY CORELOGIC

PROVIDENCE – The rate of Providence-Warwick-Fall River metropolitan area foreclosures among outstanding mortgage loans was 1.3 percent in August, a decrease of 0.52 percentage points compared with August 2015 when the rate was 1.82 percent, CoreLogic said Thursday.
In Rhode Island, the foreclosure rate was similar at 1.24 percent in August, a 0.53 percentage point drop over the year.

Foreclosure rates in Providence-Warwick and in Rhode Island were higher than the national foreclosure rate, which was 0.9 percent in August.

The mortgage delinquency rate also decreased over the year in August in the Providence metro and in Rhode Island. According to CoreLogic, 3.61 percent of mortgage loans in the metro area were 90 days or more delinquent compared with 4.92 percent for the same period last year. In Rhode Island, the mortgage delinquency rate fell to 3.58 percent in August, a 1.31 percentage point drop from August 2015.

Again, rates in the Providence metro and Rhode Island were higher than the national rate, which was 2.66 percent in August.

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