RealtyTrac today released its first ever U.S. Metropolitan Foreclosure Market Report, which ranks the nation's 100 largest metro areas by foreclosure rate in the first quarter of 2006. Here are the 10 metro areas with the highest foreclosure rates, along with the percentage of households in foreclosure for each area:

1. Indianapolis -- 1.45%
2. Atlanta -- 1.42%
3. Dallas -- 1.01%
4. Memphis, Tenn. -- 0.99%
5. Denver -- 0.95%
6. Detroit -- 0.83%
7. Jacksonville, Fla. -- 0.75%
8. San Antonio -- 0.75%
9. Canton, Ohio -- 0.72%
10. Las Vegas -- 0.71%

For the full list and more details, view the press release for this report.

As you can see, no one region dominated the top 10 list, but conspicuously missing are any cities in the Northeast, Gulf Coast and West Coast. Somewhat of a surprise was Jacksonville, Fla., which has low unemployment and strong home price appreciation, but it could be that rising interest rates combined with more risky financing are taking a toll in that area.

Any thoughts on what is contributing to the high foreclosure rates in these areas (or the low foreclosure rates in other areas)?