PROVIDENCE, R.I. -- Rhode Island ranked 12th in the nation in mortgage delinquencies and 7th in new foreclosures started during the first quarter of 2013, according to the Mortgage Bankers Association.
The association released its National Delinquency Survey Thursday and reported that the Rhode Island delinquency rate for mortgage loans on residential properties was 7.71 percent during the first quarter. (The national rate was 6.75 percent.) The delinquency rate does not include loans in the foreclosure process.
Rhode Island's foreclosure rate during the first quarter was 3.89 percent of loans, (compared to 3.55 percent nationally) while the percentage of Rhode Island mortgage loans on which foreclosure was started in the first quarter rose to 0.97 percent of loans (compared to 0.70 percent nationally).