Foreclosure rates spike on East Coast while West cools off

  • Although there was a bump in foreclosure activity -- default notices, scheduled auctions and bank repossessions -- driven largely by a 21 percent increase in foreclosure starts last month, it's typical of the spring season.

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Today, RealtyTrac released its Q1 and March 2016 foreclosure market report, showing national foreclosure rates declining to pre-recession levels in 36 percent of metropolitan areas. Although there was a bump in foreclosure activity — default notices, scheduled auctions and bank repossessions — driven largely by a 21 percent increase in foreclosure starts last month, this is a typical trend of the spring season, according to Daren Blomquist, senior vice president at RealtyTrac.