R.I. foreclosure rates continue downward trend

DATA FIRM CORELOGIC said that foreclosure rates in the Providence-Warwick area decreased in September to 1.73 percent, a decrease of 0.53 percentage points compared with 2.26 percent in September 2013. / COURTESY CORELOGIC
DATA FIRM CORELOGIC said that foreclosure rates in the Providence-Warwick area decreased in September to 1.73 percent, a decrease of 0.53 percentage points compared with 2.26 percent in September 2013. / COURTESY CORELOGIC

PROVIDENCE – The foreclosure rate in the Ocean State continued its downward trend, registering 1.85 percent in September compared with 2.42 percent a year ago, according to data firm CoreLogic.
CoreLogic on Tuesday also said that the rate of foreclosures in the Providence-Warwick area among outstanding mortgage loans was 1.73 percent in September, a drop of 0.53 percentage points compared with September 2013 when the rate was 2.26 percent.
While foreclosure rates are trending down, foreclosure activity in Rhode Island remained higher than the national foreclosure rate, which was 1.6 percent in September.
The mortgage delinquency rate also decreased in Rhode Island, as 5.62 percent of mortgage loans were 90 days or more past due compared with 6.5 percent a year ago at the same time.
In the Providence-Warwick area, 5.64 percent of mortgages were 90 days or more past due in September compared with 6.47 percent in September 2013.
Again, the national mortgage delinquency rate was lower, at 4.22 percent, for September.
The 90-plus day delinquency rate measures the percentage of loans that are more than 90 days delinquent, including those in foreclosure and real estate owned, CoreLogic said.

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