economic indicators

Metro area foreclosure, delinquency rates fall in March

COURTESY CORELOGIC
BOTH THE FORECLOSURE RATE and mortgage delinquency rate fell year-over-year in the Providence-Fall River-New Bedford area in March.
Posted 5/23/13

PROVIDENCE – The Providence-Fall River-New Bedford area foreclosure rate fell 0.11 percentage points for March compared with the same period in 2012, CoreLogic said Thursday.

The California-based real estate data firm reported a foreclosure rate of 2.88 percent for the metro area in March, down from a 2.99 percent rate in March 2012.

The mortgage delinquency rate also decreased for March compared to last year. The amount of mortgage loans that were 90 days or more delinquent was 7.06 percent for March, compared with 7.43 percent in March 2012.

Excluding Bristol County, Mass., Rhode Island’s foreclosure rate fell 0.03 percentage points from last year, coming in at 3.15 percent in March compared with 3.18 percent in March 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 higher than the national rate, which was 2.84 percent for March.

The national 90-day delinquency rate fell 0.99 percentage points, from 7 percent in March 2012 to 6.01 percent in March 2013.

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