By Jann Swanson
Posted To: MND NewsWire
Just under one third of the states plus the District of Columbia are now in what is considered a “stable” range on Freddie Mc’s Multi-Indicator Market Index® or MiMi. The index, a monthly evaluation of the U.S. housing market compared to its long-term stable range, stood at 74.5 in October. Freddie Mac said the index currently indicates a weak housing market overall but it is slightly improved from September to October , up by 0.12 percent. The three month trend is positive at 0.42 percent. Compared to the same point in 2013 the MiMi has increased by 4.48 percent. The index combines proprietary Freddie Mac data with current local market data on home purchase applications, payment-to-income ratios (this measures changes in home purchasing power based on house prices, mortgage rates, and…(read more)
Via:: Freddie Mac’s Housing Market Remains Weak
