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.

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.