By Jann Swanson

Posted To: MND NewsWire

Freddie Mac said today that housing market stability “stumbled a bit” due to the cold winter weather and softening economic growth. The company’s Multi-Indicator Market Index (MiMi) declined slightly in January a decline described as broad-based rather than concentrated in just a few state or metropolitan markets. Despite the lower MiMi index, Freddie Mac’s economists said that “an improving labor market and attractive mortgage rates continue to promise a strong spring homebuying season.” The national MiMi value declined a slight 0.20 percent from December to January to stand at 74.6, indicating a weak housing market overall . In addition to the month-over-month negative change there was a 3-month decline of -0.37 percent. On a year-over-year basis, the U.S. housing market has improved by 3…(read more)

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Via:: Seasonal Stumble in Housing Market -Freddie Mac

      

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Written by : Mortgage News Daily

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