economic indicators

Providence metro foreclosure rate ticks up in November

FORECLOSURE RATES IN THE PROVIDENCE-Fall River-New Bedford metropolitan area ticked up 0.2 percentage points in November. Excluding Bristol County, Mass., Rhode Island's foreclosure rate rose 0.26 percentage points year over year in November.
Posted 1/29/13

PROVIDENCE – The Providence-Fall River-New Bedford area foreclosure rate rose 0.2 percentage points in November compared with the same period in 2011, CoreLogic said Tuesday.

The California-based real estate data firm reported a foreclosure rate of 2.8 percent for the metro area in November, up from 2.6 percent in November 2011.

As the foreclosure rate ticked up, the percentage of seriously delinquent mortgages dropped 0.2 percentage points in November compared with the same time last year.

The Providence area 90-day delinquency rate was 7.27 percent in November, down from 7.47 percent in November 2011.

Excluding Bristol County, Mass., Rhode Island’s foreclosure rate rose 0.26 percentage points year over year to 2.95 percent in November.

The Rhode Island 90-day delinquency rate, on the other hand, fell 0.18 percentage points in November to 7.37 percent.

The national foreclosure rate dropped 0.49 percentage points over the year in November to 2.97 percent. The national 90-day delinquency rate fell 0.84 percentage points year over year in November to 6.45 percent.

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