Freddie's Mortgage Market Indicator Inches Toward Stability

Posted To: MND NewsWire

Freddie Mac says that the housing market as a whole in the U.S. is on the outer range of its historic benchmark level of housing activity. The spring homebuying season stayed on course in much of the country and the company's Multi-Indicator Market Index, the MiMi, increased by 0.27 percent from March to April and had a three-month improvement of 1.63 percent. The national MiMi value now stands at 84.1. On a year-over-year basis, the national MiMi value has improved +7.37 percent . Since its all-time low in October 2010, the national MiMi has rebounded 42 percent, but remains significantly off from its high of 121.7. The MiMi monitors and measures the stability of the nation's housing markets, on national, state, and top metro levels. Freddie Mac combines its proprietary data with current local...(read more)

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