The index tracks current gauges of purchase applications, payment-to-income ratios, on-time mortgages, and employment and measures them against their long-term stable ranges. A reading between 80 and 120 is considered to be a sign of a stable market.
Read More »Freddie Mac: Housing Market Weak But Stabilizing
The national MiMi value stands at 74.5, which is up 0.12 percent from September to October and up 0.42 percent over the past three months. Year-over-year, the national housing market has improved 4.48 percent. While still well short of the all-time MiMi high of 122.5, reached in June 2006, the national index is markedly better than it was in September 2011, when the housing market was at 60.3.
Read More »Freddie Mac: Housing Market Inching Closer to Stability
According to Freddie Mac, three of the four major indicators tracked in the index saw improvements in September, led by a 1.2 percent gain in the gauge of labor health to 94. The components measuring payment-to-income ratios and the proportion of mortgage payments made on time also edged up, rising 0.8 percent to 72.7 and 0.5 percent to 66.6, respectively.
Read More »Freddie Mac: Housing Market Loses Ground
Of the four indicators tracked, only the employment gauge was in a stable spot, falling half a percent to 92.9 as the economy continues to show strong job growth. Among the other three, payment-to-income ratios and mortgage delinquency improved over the month, climbing to readings of 69.3 and 66.4, respectively.
Read More »National Housing Market Recovery Making Slow Progress
The monthly index tracks housing market stability at the national, state, and metro level, using home purchase applications, payment-to-income ratios, employment, and proportion of on-time mortgage payments as measures of health. As of the June report, Freddie Mac rescaled the MiMi to make it easier to read, though the underlying data was left untouched.
Read More »Housing Markets Improving But Most Metros Not Yet ‘Stable’
Housing markets in half of all states and 35 of the top 50 metros are improving, according to a new report from Freddie Mac. However, only 11 states and four of the top 50 metros are "stable" compared to each market’s individual historical norms, Freddie Mac reported.
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