Providence metro area foreclosure rate down

By Patrick Anderson
PBN Staff Writer

PROVIDENCE – The foreclosure rate in the Providence-New Bedford-Fall River area declined 0.47 percentage points in November compared with the same period the previous year, real estate tracking firm CoreLogic said Monday.

The rate of outstanding area mortgages in foreclosure was 2.5 percent in November, down from 2.97 percent in November 2010. The national foreclosure rate in November was 3.41 percent.

At the same time, the mortgage delinquency rate, measuring mortgages 90 days or more past due, declined 0.33 percentage points for the Providence area. The delinquency rate was 7.36 percent in November compared with 7.69 percent in November 2010.