Foreclosure rates fall in Prov. metro, R.I. in March

CORELOGIC SAID foreclosure rates in March in the Providence-Warwick-Fall River metropolitan area and Rhode Island declined over the year in March. / COURTESY CORELOGIC
CORELOGIC SAID foreclosure rates in March in the Providence-Warwick-Fall River metropolitan area and Rhode Island declined over the year in March. / COURTESY CORELOGIC

PROVIDENCE – Foreclosure rates in the Providence-Warwick-Fall River metropolitan area declined 0.11 percentage points in March, to 1.6 percent from 1.71 percent a year ago, CoreLogic said Tuesday.
Rhode Island’s foreclosure rate was lower than the metro’s at 1.57 percent in March. Rhode Island’s foreclosure rate also dropped from a year ago, when it was 1.62 percent.
Both the Providence metro and Rhode Island rates were higher than the national foreclosure rate, which was 1.09 percent in March. The national rate also declined over the year by 0.33 percentage points.
Also in Providence-Warwick, the mortgage delinquency rate decreased. According to CoreLogic data for March, 4.32 percent of mortgage loans were 90 days or more late in the Providence metro compared with 5.2 percent for the same period last year, representing a decrease of 0.92 percentage points.
Rhode Island’s mortgage delinquency rate was nearly the same as the metro’s at 4.28 percent. That rate also fell from 5.22 percent in March 2015.
The national mortgage delinquency rate was 3 percent, which fell from 3.78 percent in March 2015.

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