All States Moving Toward Housing Market Stability Freddie Mac says

Posted To: MND NewsWire

Twenty-nine states and the District of Columbia have now moved within their own range of stable housing activity according to Freddie Mac's Multi-Indicator Market Index (MiMi) along with 46 of the 100 largest metro areas. One state, Rhode Island, joined the list in July along with four metro areas, Philadelphia, Harrisburg, Phoenix, and Albany. MiMi monitors and measures the stability of housing markets in each of the states and in the top 100 metro markets by combining proprietary Freddie Mac data with current local market data to assess where each single-family housing market is relative to its own long-term stable range. Freddie Mac looks at home purchase applications, payment-to-income ratios (changes in home purchasing power based on house prices, mortgage rates and household income),...(read more)

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