Foreclosure rate in Providence metro continues to fall in May

The Providence-Fall River-New Bedford metropolitan-area foreclosure rate fell 0.42 percentage points for May compared with the same period in 2012, CoreLogic said Tuesday. More

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Foreclosure rate in Providence metro continues to fall in May

COURTESY CORELOGIC
THE FORECLOSURE RATE in both the Providence-New Bedford-Fall River metropolitan area and Rhode Island as a whole fell from May 2012 to May 2013, according to CoreLogic.
Posted 7/23/13

PROVIDENCE – The Providence-Fall River-New Bedford metropolitan-area foreclosure rate fell 0.42 percentage points for May compared with the same period in 2012, CoreLogic said Tuesday.

The California-based real estate data firm reported a foreclosure rate of 2.42 percent for the metro area in May, down from a 2.84 percent rate in May 2012, but up 0.3 percentage points from April 2013.

The mortgage delinquency rate also decreased year over year in May in the Providence metro area. The amount of mortgage loans that were 90 days or more delinquent was 6.77 percent for May, compared with 7.35 percent in May 2012.

Excluding Bristol County, Mass., Rhode Island’s foreclosure rate fell 0.5 percentage points from last year, coming in at 2.48 percent in May compared with 2.98 percent in May 2012.

The Rhode Island 90-day delinquency rate also fell, by 0.6 percentage points, from 7.39 percent in May 2012 to 6.79 percent in May 2013.

The foreclosure rates both from Rhode Island and for metro area were lower than the national rate, which was 2.61 percent for May.

The national 90-day delinquency rate fell 0.58 percentage points year over year, from 7.35 percent in May 2012 to 6.77 percent in May 2013.

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