Affordability Keeping a Lid on Purchase Activity

Posted To: MND NewsWire

Freddie Mac's Multi-Indicator Market Index (MiMi) is now showing that most of the nation's housing markets are, at a minimum, on the outer range of their normal housing activity. The national MiMi in January was 82.7, a .18 percent improvement from December and a three-month positive change of 1.46 percent. Since January 2015 the MiMi value has risen by 7.57 percent . Freddie Mac constructs its index to monitor and measure the stability of the nation's housing market and markets in all 50 states, the District of Columbia and the top 100 metro markets. It is compiled from local area housing data including home purchase applications, payment-to-income ratios (changes in home purchasing power based on house prices, mortgage rates and household income), and proportion of on-time mortgage payments...(read more)

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from Mortgage News Daily http://ift.tt/1M3cy53